BLOODBATH: India’s IT market crashes, 500,000-600,000 LAYOFFS over the next THREE YEARS

May 17, 2017
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Very bad news coming out of India. According to this ZD report, approximately 500,000 IT professionals will be losing their job over the next three years. To make matters worse there are now reports that IBM India will also be dumping 5,000 employees over the next few quarters.

Over the last week, the one thing that Indian IT professionals were most dreading began to be talked about in earnest.

First, Mint newspaper disclosed that after conducting interviews with 22 current and former employees across seven Indian IT companies, it was clear to them that at least 56,000 engineers would be given pink slips this year. That figure is double the number let go last year.

Apparently, one immediate sign of the axe about to fall is if you are given a “low rating” by your company that then impacts subsequent opportunities at the firm — in other words, a pre-cursor towards being fired.

This year, for example, Mint said that 15,000 of Cognizant’s employees have found themselves placed in the bottom-most tier, or bucket IV, while Infosys has deemed 3,000 of its senior managers needing improvement. Mint said that in a normal year, around 1 to 1.5 percent of an Indian IT company’s employees would be shown the door, but this year that figure is going to be between 2 and 6 percent. None of the Indian companies confirmed the report.

Then, a few days ago, the managing director of executive search firm Head Hunters, K Lakshmikanth, dropped a bombshell. “Contrary to media reports of 56,000 IT professionals to lose jobs this year, the actual job cuts will be between 1.75 lakh (or 175,000) and 2 lakh (200,000) per year in the next three years, due to under-preparedness in adapting to newer technologies.”

IT Giant IBM to layoff 5000 Employees

The ongoing layoffs by the leading IT companies in India is continuing, in fact on an increasing note with IBM joining the league newly. In a major development, sources close to IBM disclosed that the company may release at least 5,000 employees over the next few quarters.

“The process has already started. Managers have been asked to identify under performers,” says a person close to the development.

Though the IT major didn’t confirm the exact number of employees to be impacted, it further said that, “Re-Skilling and rebalancing are two ongoing processes as we accelerate the benefits of cognitive and cloud technologies for clients around the world.”

Currently, 1,50,000 persons are employed in IBM India. With this decision, close to 30,000 IT jobs are in danger this year.

THOMASDISHAW.COM

THOMASDISHAW.COM

Born and raised in the backwoods of Michigan, Thomas Dishaw is an independent writer and entrepreneur. His work has been criticized in Slate, Right Wing Watch, Gawker, Daily Mail, and NY Daily News. Thomas currently writes for NaturalNews.com and resides in Delaware with his wife and Shih Tzu, where they enjoy healthy eating, politics, MSU Spartans and conservative values.
THOMASDISHAW.COM
  • Zaphod Braden

    Read “Camp of the Saints” — they will just move to Europe and complete the genocide of CHRISTianity.

    • plamenpetkov

      good, Christianity has been responsible for the genocide of at least a billion people around the world in its long history.
      Can you calculate how many people total have been killed in North Central and South America, Africa, Asia, Australia since the white man set sail around the world to conquer and subjugate the rst of the world?

      • Zaphod Braden

        Blacks SOLD their “brothers” to us ….. the muslums attacked Christianity for 200 years before Christians responded. An dmost of the evil you decry originates in the OLD testament and the fools that continue to read & believe in the WAR GOD that lives there.

        • Roman Hamilton

          Amen.

      • Roman Hamilton

        That had nothing to do with Christianity. Most of the “Christian” motives and actions during these times was not what Jesus Christ even intended. If you read the Bible and ask God for wisdom, you will see the truth.

  • ukalally

    exactly right Zap 100 million will come in the first wave