Covid-19: IT sector hit by project cancellations

  • | Saturday | 28th March, 2020

By Express News ServiceTHIRUVANANTHAPURAM: Covid-19 has impacted the information technology sector in Kerala after its markets in the USA and Europe have started cancelling projects. While the large companies are yet to come out with a statement on the current situation, a majority of small and medium companies have reported severe cash flow crisis due to the project cancellations. According to him, the contracts of small companies are likely to become void soon, except for those working in the healthcare sector. GTech has also constituted a Covid-19 Support Cell to understand issues companies are facing in the short and long term. Small and medium companies employ 70 per cent of the over one lakh IT workforce.

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