BENGALURU : India's information technology services companies may shed 30,000 to 40,000 middle-level employees this year as growth slows down, IT industry veteran T V Mohandas Pai said Monday. The former Chief Financial Officer of IT major Infosys Ltd termed these job losses as once-in-five-years normal phenomenon with maturing of the industry. "It's going to happen again and again and again every five years," said Pai, Chairman of Aarin Capital and Manipal Global Education Services. "Nobody is entitled to a fat salary and high-paying job unless you perform, right? But Pai said about 80% of those who lose jobs would have employment opportunities in industries in general if they are specialists.

Source: Mint November 18, 2019 11:03 UTC