Reportedly India's vast Information technology (IT) domain is going through a rough period as most players look to streamline costs and localize their businesses in the US. Meanwhile IT employees in india, especially mid-to-senior level staff, stand the risk of losing their jobs as most firms are likely to lay off over 5 to 8% of total workforce in upcoming quarters, reported that translates to about 10,000-20,000 employees in each large firm.

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Furthermore quoting experts, the report says that rising pressure on target margins due to heavy discounts in core business, increased hiring for US and the emergence of new technology are few reasons behind cutting jobs. Perhaps an expert told the publication that employees working as project managers with a salary of Rs 20 lakh to Rs 40 lakh face maximum risk of losing their jobs and it could further take a toll on the high unemployment rate in the country over the next few quarters.



Moreover cognizant plans to streamline its total employee pool by over 12,000 employees while reports claim that Infosys will let go of at least 10,000 employees. Apparently cognizant CEO Brian Humphries explained that the company is trying to correct the "employee pyramid" which has been distorted in the past. The company said it would increase its graduate hiring by 30 per cent and cut down of mid-to-senior level staff. cognizant is aiming to reduce its operation cost by $350-$400 million.


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