Indian IT sector to see up to 38% fewer jobs this fiscal
Many of us watching the IT services sector already knew this but here is an update from Times of India IT industry is reorganizing its workforce to deal with automation and achieve cost savings. TCS and Infosys saw employee headcount reduce by 1,414 and 1,800 in April-June quarter respectively. There will be lower net addition of techies due to sectoral headwinds and macro economic factors. In what comes as a harbinger of turbulent times setting in for the IT sector, NASSCOM has said the industry would create 20-38% fewer jobs in FY18 compared to fiscal 2017. The industry would create 1.3-1.5 lakh new jobs (lateral plus campus) in FY18 while it had added 1.8 lakh jobs in FY17. At its peak, the sector added nearly 2.40 lakh jobs a year. There will be lower net addition of techies due to sectoral headwinds and macro economic factors. "Tech is eliminating jobs in every sector, including IT. It is also creating jobs. Countries like the US and UK have been adopters of ...