Impact of slow down? IT companies may fire around 40k employees

Bengaluru: IT industry veteran T V Mohandas Pai claimed that IT companies may fire 30000 to 40000 employees this year. He held growth slowdown responsible for the downsizing in the companies.

According to the report published in Economic Times, expressing his views on the shedding of employees, the former Chief Financial Officer of IT major Infosys Ltd said that it is once-in-five-years normal phenomenon.

He also said that when a particular sector matures, there will be employees at middle level whose value addition to the company will not be equal to the salary they get.

He further said that around 80% of employees who lose jobs have opportunities in the industry.

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