IT companies decided to lay off due to Corona

IT companies have been downsizing due to the unavailability of more projects due to Corona

Industry insiders and analysts peg the number of IT and ITeS employees set to lose their jobs over the next few quarters because of the Covid disruption between 150,000 and 200,000. With the high incidence of corona exposure in India, the IT sector is working using a method called WORK FROM HOME. But now all the public and private sectors is collapsing as the corona is having a major impact globally.  

Therefore, the IT sector is involved in the reduction of people's count. IT companies said those who want to resign automatically can resign or they will fire the employees.

There are millions of workers in the IT sector. Their livelihood is currently in big trouble. Not all IT companies are involved in recruitment process because of corona pandemic. So IT workers are most affected.

Effects of Covid19 in IT Industry :

• Global IT companies have gradually reduced their employees count in last two years as they embark on automation and related technologies
• The covid19 crisis have accelerated that process as newer challenges have emerged for these firms
• The GDP of the country is reducing in an abrupt way

    In IT services companies, employees on bench are considered “non-billable" resources as their cost is not billed to any client. so obviously they will be fired out at first in any IT companies.

    This is the worst-ever level of job losses estimated to hit India after liberalization. Even the 2007-2009 financial crisis had a relatively smaller impact, with about 5 million jobs lost by salaried workers across India. International Business Machines (IBM) Corp. is laying off about 2,000 employees globally as the company reshapes its business.