Indian IT industry reels under job loss fear, 3 lakh IT professionals may loose job in next 3 years

India Infoline News Service | Mumbai | May 15, 2017 10:26 IST

The leading research firm has said that the job cuts in IT sector would be around 1.75 lakhs and 2 lakhs annually for around next three years.

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When on the one side, the government is ensuring that it keeps its promise of promoting more and more job creation in the country, many analysts have been forecasting big layoffs to happen in Indian IT sector.
 
The leading research firm has said that the job cuts in IT sector would be around 1.75 lakhs and 2 lakhs annually for around next three years. While stating the reasons for this huge layoff forecast, the research firm reported that the IT companies are still not prepared to adopt newer technologies.
 
Nearly half of the IT sector professionals are not trained as per the requirements of the newer technologies, as stated in the reports. The bigger challenge for the IT companies is to retrain the manpower. As per the reports by leading research firm, the IT industry employs around 3.9 million people.
 
Therefore, around half of the manpower in IT sector will become redundant and are likely to lose their jobs in coming years. However, the major cities like Mumbai and Bengaluru are likely to stay out of this threat but the remote cities will get hit the most.
 
The Indian IT companies cannot blame the US President Donald Trump for their ongoing problems. Donald Trump kept his promise and is ensuring that the local people of his country get the jobs. Now, IT companies need to take major steps to solve this issue and it would be interesting to watch out the steps taken by IT companies.

Disclaimer: The contents herein is specifically prepared by ‘Dalal Street Investment Journal’, and is for your information & personal consumption only. India Infoline Limited or Dalal Street Investment Journal do not guarantee the accuracy, correctness, completeness or reliability of information contained herein and shall not be held responsible.

 

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