IT Techies Look for Other Ventures as Layoffs Continue in Big Indian Firms
By Mehnaz : 15-May-2017
NEW DELHI: Since digitization and automation have become a new trend, most of the IT giants like Infosys, Cognizant, and Tech Mahindra have seen a series of layoffs. A few experts say that this wave of termination might continue for the next 1-2 years.
Thousands of employees are being given the pink slip as part of their performance and appraisal process. However, it is believed that these are directed towards cost cutting amidst the pressure on the bottom line, due to a huge rise in protectionism of target markets.
The software exporters in India are facing adverse effects in the business environment and also strict work permit rules from foreign countries like US, Singapore, Australia and New Zealand.
With the invention of the latest technologies in artificial intelligence AI, the robotic process automation and cloud computing that help to complete the task with less manpower, many industries are on the verges to reconsider their strategies.