Layoffs in IT Companies: The scenario of IT sector is not looking good at the moment. Jobs in top IT companies have decreased during the last six months…
IT sector has been counted as one of the most important sectors in terms of providing employment. However, the situation in the IT sector is not going well right now. During the last six months, many people have lost their jobs in this sector and there are no signs of improvement in the situation in the coming few months.
Results of these three IT companies are out
IT sector companies have started announcing results for the July-September quarter. The country’s largest IT company TCS started it this week. After that, Infosys and HCL Tech have also released financial results for the September quarter. By assessing the results of the three top IT companies, we get to know about the job prospects in the IT sector.
Employees are decreasing due to these reasons
The situation in terms of employment in the IT sector has deteriorated since the April-June quarter. Analysis of the financial results of the three top IT companies shows that thousands of people have lost jobs in these companies during the last six months. During the last six months, the total number of employees of the three top IT companies has decreased by about 25 thousand. The main reasons for this are said to be the cost saving measures being adopted by the companies, inability to find people for the vacant positions and lack of hiring.
Condition of the biggest IT company
The largest IT company TCS released its results on Wednesday this week. The company’s Chief Human Resources Officer Milind Lakkad said that the total number of employees of the company has decreased by about 6000 in the September quarter. He expressed apprehension that the total number of employees may reduce in a similar manner in the coming months also.
So many jobs lost in Infosys
The situation has been worse in the second largest IT company Infosys. The number of employees in Infosys has decreased by 7,530 during the September quarter. Earlier in the April-June quarter, the number of employees of the company had decreased by 6,940. Regarding the coming months, Infosys says that there is no need to do campus hiring at present. Same is the situation in HCL Tech also.
