50,000 jobs at risk, companies are secretly planning layoffs; the truth will surprise you

IT Sector Layoffs: There are going to be massive layoffs in the IT sector of the country. According to an estimate, by the end of this year more than 50,000 employees may have to lose their jobs. This number can also go up or down.

According to the Times of India report, about 25,000 people lost their jobs between 2023 and 2024. This year this number may double. To reduce their workforce, companies are adopting many tactics, such as sometimes firing people on the grounds of inadequate performance, sometimes delaying promotions or requesting voluntary resignation.

More people will be evacuated now

Recently, big IT companies like TCS and Accenture announced large-scale layoffs. On top of that, TCS also plans to lay off about 12,000 more employees by March 2026, which is 2 percent of their total workforce. At the same time, Accenture has laid off 11,000 of its employees worldwide between June and August.

Phil First, CEO of US-based HFS Research, told Times of India, this year many big companies secretly laid off many people. Neeti Sharma, CEO of Teamlease Digital, estimated that the number of IT professionals affected by layoffs could increase to 55,000-60,000 by the end of the year. In this era of Artificial Intelligence (AI), companies are laying off employees and taking the help of technology for their work.

Why are layoffs happening?

Companies in India are adapting themselves to the era of AI transformation. Ways of working are changing. By adopting AI, not only cost cutting is being done, but it is also a strategic change.

Apart from this, there are many other reasons for layoffs in the company such as geopolitical tension, America’s immigration policy, increasing cost of H-1B, etc. According to a Times of India report, companies with expertise in cloud computing, data analytics, AI and digital transformation are adapting to this change more successfully, while traditional outsourcing companies are facing the most disruption.

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