IT job market crashes: Infosys, Cognizant and others reportedly fire thousands

[ashok321]

• 2 lakh IT engineers to lose jobs annually in the next 3 years: Head Hunters India

 

[thesolar65]

Well, let this be a lesson for the future generations to come. Savings....savings only can guarantee your future, while you are good at it. That includes investment also.

Yesterday, I was watching John Oliver's video on savings. I will post it later on.

 

[JetCool]

Well, let this be a lesson for the future generations to come. Savings....savings only can guarantee your future, while you are good at it. That includes investment also.

Yesterday, I was watching John Oliver's video on savings. I will post it later on.

That is the wrong lesson to learn.

Right lesson is to keep upgrading your skill and not get complacent. Even ants and bees know how to "save", it takes a human to go beyond that.

 

[jaatki]

USA will never ditch Indians, they know what will happen, what happened when US denied access to cryogenic engines, russia to was put under pressure, we came out hammering our way into the space race.....its just one example, if USA ditched Indians, we will f*** up their enterprises here in India....no more deals eg amazon, Agilent, Agro Tech, American Express, Amway, Avaya, Caltex, Caterpillar, CB Richard Ellis, Cisco, Citigroup, CocaCola, Cognizant,Colgate,Palmolive,CSC,Cummins,Discovery,Dupont,EDS,Eli Lilly,Emerson Electric,EXL,Federal Express,Ford,Franklin Templeton,GE,General Motors,Gillette,Honeywell India I,BM,Intel,Johnson & Johnson,JPMorgan,Kellogg India,Kimberly Clark,Kodak,McDonalds,Metlife India,Microsoft,Morgan Stanley,New York Life,Ogilvy and Mather,Oracle,Pepsico,Pfizer,Pizza Hut,Sun Microsystems,Texas,Tecumseh,
Timex,Tyco,UPS India,Visteon,Whirlpool,Xerox Modicorp
See we can bring them down, we have population thats our strength, even if we consider just 200 million people afford items from these companies, expect how much they are earning.......and yes our educated masses sitting at nukkad wali chai ki dukaan have more talent than people of USA, they have ideas, they just need opportunity, if USA kick our people, we will make rival companies to their elite..... trust me India is more than just modi going to other countries for investment....

 

[thesolar65]

That is the wrong lesson to learn.

Right lesson is to keep upgrading your skill and not get complacent. Even ants and bees know how to "save", it takes a human to go beyond that.

Perhaps you are young. It is very difficult on part of 45+ person to upgrade his skills owing to the many additional problems one face at that age.

 

[JetCool]

Perhaps you are young. It is very difficult on part of 45+ person to upgrade his skills owing to the many additional problems one face at that age.

Not that young.

But everybody has a Mid Life crisis in their 40's. The smart thing is to be prepared for it.

 

[RoadRunner401]

People running the companies are the ones that are supposed to see the changing weathers and make change happens way before it affects the whole company.

 

[Rajaraja Chola]

It could be in 50k to 80k range if young techies don't adapt. Business is changing.

I really hope these guys just stop recruiting new people... If it was me I would fire all the low level HR's.. They go to campus not to recruit for the company.. but new gff and wives for guys working there...

And like in other countries, IT should recruit only those who have did Cse or IT with little other guys from Electronics, Electrical etc... Recruiting guys from Mech and civil makes no sense at all...

 

[Ajaxpaul]

I really hope these guys just stop recruiting new people... If it was me I would fire all the low level HR's.. They go to campus not to recruit for the company.. but new gff and wives for guys working there...

And like in other countries, IT should recruit only those who have did Cse or IT with little other guys from Electronics, Electrical etc... Recruiting guys from Mech and civil makes no sense at all...

Hey mechanical has its own flavour in IT. One of my friends joined in infosys. He was mechanical. Got a project in Boeing. Now in seattle.

But yeah, hr interviews are a farce. Simply recruit students with no skills.

There should be a finishing school with internship where they will gets real skills.

 

[Rajaraja Chola]

Hey mechanical has its own flavour in IT. One of my friends joined in infosys. He was mechanical. Got a project in Boeing. Now in seattle.

But yeah, hr interviews are a farce. Simply recruit students with no skills.

There should be a finishing school with internship where they will gets real skills.

I know.. Conditions apply.. It depends on the client... Even one of my friend is mech, and he got into a project to programme something for a stress system, which only mech students can understand and write a code for it..
Then there are lots of firmware engineers in IT for Electronics engineer.. These HR's get money from institutions and recruit 500's , 1000's from a college. Those scamsters should be fired...

I firmly believe banks should frame rules that those who study finance related subs alone are eligible for it... It will help students to diversify from Engineering... my friend has an Mtech and he is an assistant manager in a pvt bank...

 

[CAD]

CEO of Infosys Vishal Sikka. (Photo by STR/AFP/Getty Images)

At least 200,000 software engineers in the India IT industry will lose their jobs each year over the next three years, according to McKinsey & Company.

"Contrary to media reports of 56,000 IT professionals losing their jobs this year...the real number will be between 175 thousand and 200 thousand per year," says Head Hunters India Founder K. Lakshmikanth, basing his analysis on the McKinsey report released in February. The Head Hunters India executive blamed artificial intelligence, often being developed at the very firms that will be shedding body weight between now and 2020.

AI and so-called robotic process automation will pull the rug out from under the big India IT firms in the near future as they all workout ways to benefit from these new technologies. For those who use software outsourcers, AI and robotic automatic can bring down costs. Everyone in the industry is scrambling to beat their competitors on price, especially when many competitors are in the same niche and often have similar tech offerings.

"We used to be big investors in Tata Consultancy, but now we own nothing in India IT," says Rajiv Jain, founder and fund manager at GQG Partners. Jain is a former emerging markets fund manager for Vontobel Asset Management. He blames changes in the IT industry itself.


Other headwinds get more headlines, in particular the H1-B visa that companies like Tata rely on to bring in low cost computer software engineers from India. The Trump Administration is making it harder for those companies to bring in those workers, requiring more evidence that the firms cannot find similar labor in the U.S. Tata, Infosys, Wipro, HCL and Tech Mahindra take the lion's share of the 80,000 annual H1-B visas issued by the U.S. government. Making it harder for the Indian firms means American companies like Amazon and IBM, two of the biggest U.S. users of H1-B visas, will have more visas made available to them instead.




"Artificial intelligence is really a disruptive force for the big IT outsourcing firms," says Rob Lutts, chief investment officer for Cabot Wealth Management.

Source: forbes

 

[Maxpane]

ohhhhhh

 

[Fledgingwings]

India is claimed to be an Icon among asian countries for having software engineers dominating in global IT market.how come its turned upside down?

 

[Pakistan First]

So, that's over half a million IT professionals on the streets in three years time.

 

[Tom M]

So, that's over half a million IT professionals on the streets in three years time.

No, it's temporary just a transition, technological advancement. Everything will be fine as more demand will emerge within 2 - 5 years just wait and see.