Two Lakh Engineers May Lose Jobs In The IT Sector AnnuallyOffice of an Indian IT firm.

Recruiting and search agency Head Hunters India has said that the Indian Information Technology (IT) sector will witness between 1.75 lakh to two lakh job cuts annually for the next two years. This reduction in employment is being attributed to the lack of preparedness in adapting to newer technology.

Contrary to media reports of 56,000 IT professionals to lose jobs this year, the actual job cuts will be between 1.75 lakh and 2 lakh per year in next three years, due to under- preparedness in adapting to newer technologies.
K Lakshmikanth, Founder-Chairman and Managing Director of Head Hunters India

Lakshimkanth said this while analysing a report by McKinsey & Company at the Nasscom India Leadership Forum earlier in February this year. The report had said that close to half of India’s IT workforce would be redundant in the next three years due to a significant shift in automation, thus making it a challenge for firms to retain half of their workforce.

An Appeal...

Dear Reader,

As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.

Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.

We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.

Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.

Become A Patron
Become A Subscriber