Is There Job Security In IT ? The Largest Layoffs In Recent Years

Is There Job Security In IT ? The Largest Layoffs In Recent Years

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IT sector is going through the layoff at the largest scale, which is causing insecurity in the IT professionals. The automation, US President Donald Trump’s restriction on visa, and the supply of IT professionals more than demand is highly affecting the IT sector.

The top IT firms in India Infosys, Tech Mahindra, Capgemini, HCL, Cognizant, Wipro, and DXC Technology are planning to let go of 56,000 employees together. The number of lay off is very high this is going to give rise in unemployment issues in India. Here are top IT brands which did the largest lay off in the recent year

Snapdeal

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In March 2017, Snapdeal, the e-commerce startup laid off about 30 percent of the workforce, which was around 2,300 employees.

 

Cisco System

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In August 2016, Cisco System, US based networking company announced they would be reducing 5,500 employees altogether.

 

AskMe.com

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AskMe.com, Gurgaon based startup was going through the cash crisis. In August 2016, finally it has to shut down and has to fire 4,000 employees.

 

Ola

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In the second half of 2016, Ola the taxi startup company gave pink slip to 1000 TaxiForSure employees.

 

Larsen and Toubro

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From April to September 2015, L & T, did India’s biggest layoff. It fired 14,000 employees.

 

Flipkart

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The e-commerce startup in July 2016 fired 700-1000 employees to reduce the valuation.

 

Housing.com

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In the month of August 2015, Housing.com, the real estate company fired it’s CEO Rahul Yadav and the co-founder. To focus on the product and core technology and also to reduce cash crunch decided to fired 600 employees.

 

TCS

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In the year of 2015, because of the under performance of the employees TCS had fired around 3000-5000 employees. At that time IT sector witnessed the mass lay off.

 

Yahoo

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Yahoo now collaborated with the Verizon Communications had 8,600 full time employees. All of them already tolerated many rounds of cut off. In the year of 2014, from the development and research center of Yahoo in Bangalore fired 600 employees that was the second largest center of the Yahoo.

 

In the IT Sector, it has been common practice to let the employees go, if they are unable to meet expectations. Along with it Donald’s restriction on the H-1B visas affect the IT sector. Recently a week back, an IT professional did suicide in Pune. There are also so many companies doing layoffs like Tech Mahindra, Cognizant etc. The IT professionals have to suffer with the layoff till the industry get stabilized.

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