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IT sector job cuts will continue, says top HR firm; 5–6 lakh engineers to lose jobs
By Muqbil Ahmar Tech Mahindra, Infosys, Wipro, Cognizant ; all these Information Technology majors have fired thousands of employees. India's Information Sector seems headed for an uncertain and tumultuous future. According to a top HR firm , the dark clouds hovering over the IT sector are here to stay. HR firm Head Hunters India has said that 5–6 lakh engineers are set to lose jobs in the next three years, that is, between 1.75 and 2 lakh per year for the next three years. "Contrary to media reports of 56,000 IT professionals to lose jobs this year, the actual job cuts will be between 1.75 lakh and 2 lakh per year in next three years, due to under- preparedness in adapting to newer technologies," Head Hunters India Founder-Chairman and MD K Lakshmikanth has said, while analyzing a report submitted by McKinsey & Company at the Nasscom India Leadership Forum on February 17. The McKinsey report has said that nearly half of the Infor...
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