The end of fiscal year 2016-17 has brought a bandwagon of churners in the IT industry. The Indian IT majors such as Wipro, Tech Mahindra and Infosys are expected to sack a number of employees. It is said that the lay-offs are due to the increasing adoption of artificial intelligence and automation at the technological front. Every company, be it small or big, the revolutionary technological amendments are the cause of this spate of layoffs amidst the low and mid-level employees.
The world acclaimed stature of India IT industry is diminishing whilst witnessing the slowest business growth of the decade in 2017. Professionals are estimating a hefty shift in budget strategies, as well as in technology as organizations are duly shifting from on-premise to off-premise. Thus, it makes an explicable scenario for every targeted employee in an organization.
Recently, in the sheath of thorough assessment and appraisal process, Wipro has churned out over 500 employees. Official have claimed it as a process to sack non-performers from the organization. Concurrently, Tech Mahindra due to its own share of challenges and business propels may sack around 1500-2000 of its employees. On this, Tech Mahindra spokesperson quoted the action as an annual process and stated this year to be no-different.
Other major IT organizations including Infosys, Capegemini and Cognizant are also said to walk the same path like their fellow competitors. Cognizant Technology Solutions is said to bring down its employability graph by 5% i.e. a dash of thousands of employees this year.
As reported earlier by Dataquest, the Aspiring Minds’ ‘Automata National Programming Report’ stated that 2/3rd of the IT professionals cannot write codes and so, 95% engineers are not employable. (Read more)
Indeed, after various studies by renowned institutes and authorities on the futuristic relevance of freshers and existing employees in the industry, companies have made amendments in their assessment process. The IT majors are also expected to revamp the parameters of non-performance, skill-sets and adaptability of employees to new technologies and transformations.