The information technology (IT) industry is laying off thousands of employees across the globe and in India, on grounds of non-performance, lack of projects and rightsizing surplus staff as pressure mounts on firms due to an uncertain business environment.
Analysts believe employees on bench will inevitably be the first ones to be laid off. “Layoffs are obvious. The existing business models of these IT companies are under tremendous pressure as new deals are very hard to come by. Even the deals that come are much smaller, take longer to close and are more outcome-based. Also, the existing contracts are being renegotiated. Bench employees are non-billable so they would be hit first,” said Sanchit Vir Gogia, CEO and chief analyst, Greyhound Research.
“In terms of profile, employees with critical skills like artificial intelligence (AI), data science, and user experience are likely to be retained for longer than the infrastructure services workforce. Also, expensive roles such as senior project managers with 8-12 years of experience and not associated with any outcome-based roles are vulnerable as well as the most basic ones who are not trained or involved in repetitive tasks,” Gogia added.HT Mint
Copyright Policy. All content contained on the Greyhound Research website is protected by copyright law and may not be reproduced, distributed, transmitted, displayed, published, or broadcast without the prior written permission of Greyhound Research, or, in the case of third-party materials, the prior written permission of the copyright owner of that content. You may not alter, delete, obscure, or conceal any trademark, copyright, or other notice appearing in any Greyhound Research content. We request our readers to not copy Greyhound Research content and not republish or redistribute them (in whole or partially) via emails or republishing them in any media, including websites, newsletters, or intranets. We understand that you may want to share this content with others, so we’ve added all relevant links and tools under each content piece that allow you to share the content. If you have any questions, please contact our Community Relations Team at email@example.com.