Fears of layoffs in IT sector have led to employees forming India's first tech union.
Mumbai: Indian IT industry that has been mired in layoffs controversy will hire in range of 1.3 to 1.5 lakh new recruits in 2017-18 financial year, industry body Nasscom said.
It also says that India's IT exports may grow 7-8 per cent in 2017-18 and
domestic industry 10-11 per cent. Layoffs in India's IT companies have worried both the industry and the employees equally.
Besides, Trump administration's restrictions on H1-B Visas that allows IT professionals entry into the US for work and his advancement of protectionist policies have eroded firms prospects.
Major industry player Infosys has indicated it will hire more number of new recruits this year. The layoffs, according to IT Ministry, were not due to a slowdown in the sector, a view which the IT companies have concurred with.
Most of the big IT players attribute the layoffs to performance related scrutiny and employees' annual appraisals.