Executive search firm Headhunters revealed that the job cuts in It sector will be between 1.75 lakh to 2 lakhs annually because of being non-prepared to adapt to newer technologies.the McKinsey company report revealed that nearly half of the workforce of the It firms will be irrelevant over the next 3-4 years.
McKinsey India Managing Director Noshie Kaka also said that the biggest challenge was to retrain 50- 60 percent of the workforce.Which is around 3.9 million of the workforce has to be retrained.He also added this job cut will not happen in major cities like Mumbai or Bengaluru but it is likely to happen in cities like Coimbatore and other remote places.
A top official said because of the changing technology the most affected will be the professionals aged 35 and above for it would be very difficult for them to get new jobs. Stay tuned for more updates.
