Summary:
Instability across the global information technology sector, which employs a large pool of fresh college graduates, has been laying off thousands of employees in the wake of the coronavirus pandemic.
IT companies in India, too, have resorted to layoffs, though they have been linked to non-performance.
Many IT employees in India are being sacked on grounds of non-performance, while some are being sacked due to lack of projects.
However, the underlining reason that has triggered a fresh wave of IT layoffs seems to be related to downsizing workforce in an uncertain business environment, reports livemint.com.
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New Delhi: Instability across the global information technology sector, which employs a large pool of fresh college graduates, has been laying off thousands of employees in the wake of the coronavirus pandemic.
IT companies in India, too, have resorted to layoffs, though they have been linked to non-performance.
Many IT employees in India are being sacked on grounds of non-performance, while some are being sacked due to lack of projects.
However, the underlining reason that has triggered a fresh wave of IT layoffs seems to be related to downsizing workforce in an uncertain business environment, reports livemint.com.
The reduction of employees by global IT companies is not new, they have been doing it for the past two years in light of new technology that has emerged; more positions in the IT industry are being rendered useless due to automation.
It now seems Covid-19 may accelerate the downsizing process and automation is likely to get a boost.
According to the report published in livemint.com, IBM Corp is laying off around 2,000 employees globally in a bid to reshape or reorient its business with the present setup.