A big wave of IT layoffs is coming

At least 150,000 to 200,000 IT/ITeS employees are likely to lose their jobs over the next few quarters due to Covid-19, Business Standard reports. Experts told the daily that 3-5% of the workforce could be shed at most firms as automation accelerates and IT contracts get either renegotiated or wrapped up prematurely.

That will push a large chunk of employees onto the bench as they won’t be deployed on billable projects. Accenture, Cognizant and IBM are reportedly laying off thousands while headcount fell at TCS, Infosys and Wipro in the June quarter.

By Abhigyan Chand, Editor at LinkedIn News