Indian IT Sector Job Hiring declined 17% YoY; Volatility Continues

Indian IT Sector

The Indian IT sector is said to have hit worse, considering the fact that the IT companies hiring process dipped to 17 percent from year to year in May 2017. This was due to the rapid change executed by the industry in the hiring aspect. New or updated Skill-base was being looked at by the companies and hence, most of the employees too in the fear of losing the jobs were updating themselves with new technology – This update was revealed by Naukri JobSpeak study.

The study is the division of Info Edge (India) Limited. It reported proceedings taken from the hiring done through and focused on publishing the results that were based on job listings appearing on ‘ site’ month-on-month.

In the range of downtrend in hiring, BPO saw a dip of 10 percent and telecom saw a dip of 7 percent. An 18 percent decrease in hiring was seen in the oil & gas sector along with the pharmaceuticals seeing a dip of 1 percent in its circle.

The Japanese brokerage firm Nomura stated in its report that ‘job cuts‘ would be about 2-3 percent of the total headcount. This would be done by companies like Infosys, Cognizant, Tech Mahindra and Wipro. Around 600 people have been asked by Wipro to leave the company based on the appraisals.

It’s very sad that when the company employs the person it asks the candidate to inform the company beforehand during the time of leaving the company by the employee. The growth of the company relatively is due to the contribution of every employee. However, it is the decision of the company to lay them off without prior notice or just by adding the note in the agreement between the employee and the company stating that the latter has the authority to expel the employee for non-performance, which the company identifies after a quarter or a year, whichever way the appraisals take place. (again decided by the company).

As IT companies prepare to hire the locals in the US due to the pressure built there against the H-1B visas (which is seen as a protectionist measure), Infosys is planning to create 1000 new employment in U.S.

It is expected that automation would take away close to 5,00,000 jobs from the IT Sector in India.