Layoffs in IT sector is going to be a common thing

There is a huge transformation happening in the IT industry, and some of the transformations are evident and some are not that evident. Many companies have changed the way they operate and the market they target. Currently, we think that AI is the major reason behind it, but it may not be the only reason behind this massive change. There are numerous factors contributing to this change, and I believe the entire industry is transforming.

Some companies have already started making plans to reduce the headcount, and recently, we all know that TCS almost reduced 2% of its employee strength. Not just TCS but CTS, Infosys, HCL, etc, also have similar plans, and they may not refill some of the positions that are changing. Some companies have already been doing this silently, where when an employee leaves, they don't refill that position. This also does not mean that they are reducing the overall employee count.

Source

In most companies, when an employee leaves a particular position, the position is adjusted by another person but the recruitment continues to happen in places where there is a transition or change in the company, and more weightage is given to that department. Some companies hired more people than they required, and later, when people found out that there was no growth, they left the company, or in some cases, when there was no demand, the company also had to lay off.

Specific skill-based hiring

Today hiring has also shifted more towards the requirement of having more specific skills that include AI, Cloud computing etc, which are more like a modern requirement than having skills on technologies like .NET or JAVA. Security also plays a very important role these days. There is a huge demand for security-based skills, but mostly security-related jobs require a good amount of corporate experience. Many companies are transitioning more towards having good security measures taken for their products.

Today, freshers fear entering the IT industry, but first of all, it is not as easy as before for them to enter the industry. Only a very few companies are now recruiting freshers, and many companies have AI and ML as a basic requirement before hiring. Many freshers have started reskilling themselves and are almost ready to grab any opportunity that they can get. It is hard to just focus on only particular skill alone and wait for the job to happen.

---

If you like what I'm doing on Hive, you can vote me as a witness with the links below.

Vote @balaz as a Hive Witness
Vote @kanibot as a Hive Engine Witness

---

---

Posted Using INLEO