Here’s some bad news coming in from IT sector regarding jobs
Advertisement
Fresh engineering graduates will have to face some tough time looking for a job as hiring in the current financial year will be lower than the previous year.
The Indian IT body NASSCOM stated with IT companies facing pressure on margins and automation kicking, fresh jobs will be less.
"Hiring activity in the year before last was 2.20 lakh (new jobs were created in IT sector). Last year, (FY 2015-16) there were about two lakh additions. This financial year, we are expecting it to be on the lower side of that,” said National Association of Software and Service Companies (NASSCOM) President R Chandrashekhar.
He said fresh hiring will be either stagnant or decline as IT companies are adopting higher productivity by reducing the strength and focusing on automation .
“For a country like India, automation works differently as cost effectiveness on automation is different because our economic levels are different," he said.
While certain jobs within the industry may be automated, those which are off-shored are actually coming in to India. There is a loss of jobs because of automation within India and also because of a new set of jobs which are coming due to off-shoring and technology changes, he said.
"In short, for the next two years, we are still quite optimistic. Our fundamentals are stronger than others (countries),” he added.
(Image: Reuters)
Advertisement
The Indian IT body NASSCOM stated with IT companies facing pressure on margins and automation kicking, fresh jobs will be less.
"Hiring activity in the year before last was 2.20 lakh (new jobs were created in IT sector). Last year, (FY 2015-16) there were about two lakh additions. This financial year, we are expecting it to be on the lower side of that,” said National Association of Software and Service Companies (NASSCOM) President R Chandrashekhar.
Complimentary Tech Event
Transform talent with learning that works
Capability development is critical for businesses who want to push the envelope of innovation.Discover how business leaders are strategizing around building talent capabilities and empowering employee transformation.Know More
“For a country like India, automation works differently as cost effectiveness on automation is different because our economic levels are different," he said.
Advertisement
"In short, for the next two years, we are still quite optimistic. Our fundamentals are stronger than others (countries),” he added.
(Image: Reuters)
Advertisement
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Catan adds climate change to the latest edition of the world-famous board game
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- JNK India IPO allotment – How to check allotment, GMP, listing date and more
- Indian Army unveils selfie point at Hombotingla Pass ahead of 25th anniversary of Kargil Vijay Diwas