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Massive Lay-offs continue in IT majors

Massive Lay-offs continue in IT majors

From last one year, the Indian IT industry is too strained and when we speak of jobs in the sector, the situation looks even  worse.

We have read many jobs cuts & pink slips in Tech majors and the news we are now bringing to you fall inline with same. As per a report, two major Indian IT firms have cut down their employee count by 1% from the start of this fiscal year. The companies are already ramping down high-level jobs due to the slowdown in sector's growth and US visa hurdles.

The leading IT majors, Infosys and Wipro had cut down 3646 jobs between April-September this year. While Wipro saw a cut down of 1722 jobs in second quarter, the Bangalore-headquartered Infosys laid off 1924 employees in first six months.

But the officials are justifying the move by saying per-employee efficiency had gone up by 2.53 percent in the period. An Infy official offered a clarification saying, 'if you look at H1 this year, as compared to the same period last year, our headcount has reduced by 0.7 percent, while revenue grew by 5.7 percent. This is part of higher utilisation and efficiency in productivity.'

Besides Infosys Ltd & Wipro Ltd, Tech Mahindra, HCL Technologies, Cognizant Technology Solutions, DXC Technology Co and Cap Gemini have decided to sack 4.5 percent of their staff in 2017. What are the major factors allowing companies to issue pink slips in large numbers - Automation, digital processes & slowdown of industry's growth.

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