Executive search firm Head Hunters India today said the job cuts in IT sector will be between 1.75 lakh and 2 lakh annually for next three years due to under-preparedness in adapting to newer technologies. McKinsey & Company report had said nearly half of the workforce in the IT services firms will be “irrelevant” over the next 3-4 years. This will workout to, on a average, between 1.75 lakh to 2 lakh per year for next three years,” Lakshmikanth explained. However, he said job cuts will not take place in major cities like Mumbai or Bengaluru, but cities like Coimbatore or a few remote places, he said. Asked if it is fair to blame US President Donald Trump’s policy for job cuts, Lakshmikanth said it is not fair because he has fulfilled the promise after winning the elections.

Source: Hindustan Times May 15, 2017 05:48 UTC