The top IT firms in the country are expected to release about 56,000 engineers this financial year.
5.9%, or 10,000, of its 170,000 of its employees will be asked to leave this year.
Denial or Cover up ?
The statements from these companies however, seem to point to exactly opposite to what reports claim.
This year however, the number is expected to be 2% at minimum.
Digital revenue is still less than a fourth of traditional business.
Meanwhile, traditional business is slowing.
Tasks that needed a whole pyramid of employees earlier can now be done with just a handful of them.
The entire pyramid structure (organizational structure) is getting disrupted, the second HR head cited earlier added.
They also saw a decline in their profitability.
Outcome of protectionist policies
IT industry grew on the twin premise of talent and mobility.
Now both these are being questioned.
Because of protectionist policies across the world, we have to go for more localization.
And the business requirements of clients are in newer areas such as data analytics.
Traditional maintenance work is getting automated.
Infosys has already announced that its plans to hire 10,000 US citizens over the next two years.
Source:livemint
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source: www.techworm.net
