The Indian IT industry worth $156 Billion, often dubbed as the largest job maker in the organized industry, is witnessing a tectonic movement in employment. For the initial 6 Months of the financial year, Infosys, Cognizant, Tech Mahindra, and Wipro have all witnessed their worker strength really decline, quite piercingly in case of Cognizant (by more than 5,000). HCL Technologies and TCS are the only exemptions among top 6 IT firms of India, but even addition of TCS is a part of what it did in the initial 6 months of the last financial year.
The headcount of all of the 6 firms put together fell by 4,157 in the initial 6 Months of this financial year, in comparison to an elevation of around 60,000 last year in the same period. “The sector is standing at a junction. The journey toward automation and digitization offers an overabundance of chances, but with the same coupon also a numberless of hurdles. Employing for some of the majors of India has not only slowed down, but for the first time we have witnessed a drop of headcount,” SVP of IT services and intelligent automation at an IT consulting company, Tom Reuner, claimed to the media in an interview.
Various reasons are at work. Automation is creating number of entry-level redundant jobs. Firms are enhancing their worker-utilization levels, and keeping less people on the board. In the conventional sectors of maintenance & application development, and maintenance of infrastructure, development is low. And while firms are seeking to employ people with specialized talent sets in latest areas such as machine learning, data science, Internet of Things, and artificial intelligence, the rate of growth in these segments and the nature of the trade do not require large-scale employing.
An industry analyst claimed, “The picture of employment in IT sector of India is modifying rapidly. The consumption of new campus hires in the IT sector of India is radically down and seems to carry on falling. The sector will persist to be an immense place for engineers with the correct talent in automation, AI, and other digital talents that are in huge requirement.”