Is Honeymoon Over in Indian IT Industry? Cognizant and now its Wipro.. Who’s Next?

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As expected this time it was Wipro, India’s third largest software services who after Cognizant, fires more than 600 employees with the reason of poor performance and the number is to go up to 2000 as part of its annual “performance appraisal”.

According to media reports, Wipro laid off around 600 employees, while many predict the number to go as high as 2,000.

Nearly 86% of the H-1B visas issued for workers in the IT sector go to Indians and this figure is now sure to be scaled down to about 60% or even less.

Visa troubles for the Indian IT sector are not confined to the United States. After the US move to tighten visa norms, Australia announced scrapping of 457 visa used largely by Indian IT professionals.

It’s not only US but other countries too started curbing down work Visa for Indians IT professionals. The Countries like Australia, Singapore, UK and many other countries tightening Visa norms will disrupt the number game of resource for Indian IT firms which will lead in for more layoffs in the coming days.

This has been lingering for a while but since early-2016, visas are down to a trickle. All Indian companies have received communication on fair consideration, which basically means hiring local people.”

It’s not just the layoffs, even the fresh hiring have taken hit too. With automation in various process, hiring has come down to almost 60% lower than the previous year.

When will this carnage stop? How long the blood bath is going to continue? Is party over for IT industry is still a big question for many of us.

According to Employment Outlook Survey by Experis IT – ManpowerGroup India, the IT hiring intentions will remain sluggish for the period April’17 – September’ 17 with only 58% of the Indian IT employers looking to hire over the coming 2 quarters.

Indian IT Employment survey

It’s high time for everyone who is in IT industry. The Employees who cannot gain the competence in these times, would be at higher risk two years down the line and may go fiver years as they would become outdated or “less relevant” to technologies.

There are Many companies has already working out on plan to train their employee and learn new and upcoming technology which will disrupt many smooth going life in Industry and by 2018 as the contours of the outsourcing market undergo radical changes.

So what’s your take on it? Is honeymoon over in IT industry? What do you suggest college pass out? Which technology you suggest one should go for if they are to be competitive in skill in market?

 

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