IT giants like Infosys, Wipro, Cognizant, Tech Mahindra and Capgemini have made news for the reported layoffs, which seem to have a lot to do with the slow growth in the sector and automation
In the last few days, Indian IT giants have been in the limelight, thanks to reports of massive job cuts that have hit the sector. While some of these firms have said that the reports of such huge layoffs are unfounded and that some employees were let go on the basis of performance, the move looks like it has more to do with the slow growth in the IT sector. Automation could be another reason.
The firms have been battling issues such as tougher visa norms, a sluggish global economy and the rising popularity of digital services. For instance, Cognizant was said to be sacking its employees in India to ramp up its hiring process in the United States, its home country.
This step was seen as a way to appease the Donald Trump administration, which has expressed displeasure over US firms outsourcing jobs to other countries, as well as addressing the charges against it taking up a major share of the H-1B visas offered.
read more- IB Times