Covid-19 likely to impact 5% IT employees in India, take away 200,000 jobs

Performance-related retrenchment has always been part and parcel of the IT industry, but the current spate of layoffs in the IT and IT-enabled services (ITeS) sectors has more to do with the pandemic. Industry insiders and analysts peg the number of IT and ITeS employees set to lose their jobs over the next few quarters — because of the Covid disruption — between 150,000 and 200,000. “You will see a minimum of 3-5 per cent of the weight being shed in almost every IT company — particularly the big 20 — because of Covid and not performance-related issues.....

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