NASSCOM denies report on 3 million job cuts in IT

NASSCOM denies report on 3 million job cuts in IT

The National Association of Software and Service Companies (NASSCOM) countered a report claiming that Indian IT firms are expected to slash 3 million employees by 2022.

NASSCOM said in a statement that the IT industry continues to be a net hirer of skilled talent, with the top five Indian IT companies planning to add over 96,000 employees for FY22.  

The clarification around hiring and job creation in the sector came after a Bank of America report claimed that the layoffs will help software companies save $100 billion, mostly in annual salaries, adding that 30% of the nine million low-skilled services and BPO (business process outsourcing) roles in the domestic IT sector will be lost by 2022, mainly driven by the impact of robotic process automation (RPA). 

“With the evolution of technology and increasing automation, the nature of traditional IT jobs and roles will evolve overall leading to the creation of newer jobs. The Industry is upskilling more than 250,000 employees in digital skills and has hired more than 40,000 fresh digitally trained talent, indicating its commitment and investment towards rapid enhancement of workforce capabilities,” NASSCOM said in the official statement. 

Read more here.

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