The future looks grim for thousands of employees of Indian IT industry who have been handed pink slips over the past couple of months. A small number of people sacked from companies like Wipro and Cognizant may be absorbed by second rung firms, but since the number of resumes in the market is huge, not all may find jobs. He added that because of this, service providers have an excess number of employees for the first time since the global economic crisis of 2008. He said affected employees will need to focus heavily on upgrading their skills based on the latest trends in the IT industry to improve their chances of finding new roles.Rituparna Chakraborty, cofounder of TeamLease Services, was more positive. “Since hiring among tier-1 firms is slow right now, it may take time for people to get a good role.

Source: Economic Times May 15, 2017 18:32 UTC