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| 03 August, 2020, 08:49 PM IST | E-Paper
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    IT professionals crowd the job street

    Recruitment firms have received at least a few tens of thousands of queries for entry to senior levels in IT services space. Xpheno, a specialist staffing firm, has seen almost 40% spike in CVs from senior tech professionals from IT services companies over the last fortnight.

    Cognizant lays off employees across multiple India locations

    Vinod AJ, general secretary of the All India Forum for IT Employees (AIFITE), said Cognizant employees across Chennai, Bengaluru, Hyderabad, Pune, Kochi and Kolkata have been affected.

    Cognizant to retain digital talent in slowdown, anticipating recovery

    The Teaneck, New Jersey-based IT services provider earns around 38% of its $16.8 bn revenue from digital businesses.

    Over 3,000 US employees file class action suit against Cognizant

    This is a fallout of Cognizant’s announcement in October that about 6,000 of its employees in the content moderation business for Facebook may be asked to go. The company had then said it would exit this business, and would try to find new homes for the employees involved.

    The human dimension of India’s IT woes

    Many of those laid off were mid- or upper-level techies, with low lateral skills for other industries.

    Why is Cognizant cutting 12,000 jobs?

    Cognizant will let go of as many as 7000 jobs in the next few quarters and exit its content moderation business, impacting another 6000 employees, as it begins a strategic restructuring to cut jobs.

    Cognizant to let go of 350 senior hands earning Rs 80 lakh-1.2 crore to bring down costs

    Most of these employees are based out of India. The list has been submitted to chief executive officer Brian Humphries’ office, the people said. They are part of the 10,000-12,000 mid-to-senior level positions globally that the company said in October it would remove from their current roles in the coming quarters, the people said.

    IBM, the silent job cutter, stokes worker anxiety, speculation

    Speculation about thousands of job cuts last month has heightened anxiety among employees.

    Indian IT employees stare at a mid-life crisis

    ​​The axe will fall mainly on midlevel employees and those who haven’t picked up relevant skills.

    Big hikes for Cognizant brass

    The compensation increases have come at a time when the company said it was laying off as many as 200 senior executives.

    CITU condemns mass retrenchment of IT employees

    "All these IT multinational companies have been earning huge profits and there is no reason to retrench employees. The firing operations are being taken up on the pretexts of ‘growth plans', ‘restructuring', ‘role rationalisation' etc, which are nothing but measures to maximise their profits at the cost of employees," CITU said in a statement.

    Cognizant may go for job cuts after slashing growth target

    The Teaneck, New Jersey-headquartered firm has been cutting jobs for the last two years.

    Middle is where Cognizant's job cuts will hurt the most

    Cognizant said its headcount growth had outstripped revenue growth in the past two quarters.

    Cognizant cuts bench time, puts pressure on employees

    Cognizant has cut the bench time for employees, opening up the possibility of more exits.

    Reskill to survive: Tech firms retrain staff on war footing

    Accenture, Infy, TechM, Cognizant, MphasiS investing to make workforce future-ready.

    Cognizant fires 200 senior executives

    Last year, Cognizant had offered nearly 400 employees a voluntary retirement scheme but this year's move by the company to cut senior level jobs is involuntary.

    Cognizant begins to rationalise top deck

    The voluntary separation programme could be for 300-400 executives holding the title of a director.

    Cognizant may lay off more, delays campus hires

    Under new CEO, Cognizant is undergoing a widespread restructuring aimed at boosting growth & lowering costs.

    Cognizant: Mighty growth engine comes to near halt

    Two things happened around 2016 that might provide a clue to this collapse.

    Infosys lays off mid, senior level executives

    The company is letting go of 10% of the workforce, or around 2,200 people.

    Telangana labour department calls Cognizant to discuss layoffs

    Cognizant spokesperson said: “Cognizant has not conducted any layoffs. Each year, as is the best practice across our industry, we conduct performance reviews.

    Cognizant layoffs may not spike this time around

    Rumours abound about a spike in the employee see-off numbers this year contrary to the annual one to two per cent, sources said on Saturday.

    IT companies to shed 5-10% of mid-level workforce: Ex-CFO of Infosys

    IT cos have no choice but to lay off some of their mid-level staff to become more agile, said ex-CFO of Infosys.

    Cognizant President Rajeev Mehta writes to employees, assuages layoff concerns

    Reports suggest that over 6,000 employees in India have lost jobs even as the company has put in place a voluntary separation programme for mid to senior execs.

    After Cognizant, other IT biggies like Wipro and Infosys also prepare for layoffs

    Those taking the hit first are mid- and senior-level professionals. But lower level employees, too, will be hurt later in the year due to sluggish growth.

    With firing rises hiring of outplacement companies

    Firms are now going big on outplacement and career-transition services for staff who are being let go of.

    No mass job cuts, freshers to get 20% more from next year, says Cognizant

    Cognizant slashed its revenue growth guidance earlier and said it was looking at cutting jobs to reduce costs.

    Layoff season: IT staff head to school to stay in the reckoning

    “The growing realisation among Indian workforce that reskilling is the only way to stay competitive led to a 37% increase in registrations during the February-April period compared to last year," said Raghav Gupta, India country director, Coursera.

    Layoffs in IT companies: Is it time for trade unions to come into play?

    Those in support of laid-off workers say the firing policies based on performance reviews are often discriminatory.

    Cognizant to trim top deck to make room for juniors

    Cognizant clarified the number of job losses that were being targeted.“The number of senior job cuts will be under 200,” a Cognizant spokesperson told ET.

    IT layoff numbers are exaggerated, says top TCS executive Ravi Viswanathan

    Defending the industry as a whole, Viswanathan said that early estimates from Nasscom indicate that the IT industry will be net hirers as the year ends.

    Layoff number exaggerated, IT industry is a net hirer of people: Nasscom

    There is a gentle deceleration in net new hiring growth rate and the emphasis is shifting from scale to skills, said Nasscom.

    ET Top Recruiters Survey: Cognizant back on top with most hires from B-schools

    The ET Top Recruiters Survey found that 10 of India’s biggest recruiters hired a total of 1,175 MBA students from 26 leading B-schools in 2017.

    FITE planning group petition with Tamil Nadu labour department on alleged lay-off by Cognizant

    Tamil Nadu's labour laws provide for aggrieved employees to approach the Conciliation wing of the state labour department to settle disputes with employers.

    IT employees get nod to set up trade union in Karnataka

    The nod to set up India's first dedicated IT employee union is a significant moment, the first big breakthrough for techies grappling with prospects of job loss.

    Cognizant seeks 2 weeks time from Telangana govt over employees' 'resignations'

    The Forum for IT Employees had filed a petition on "layoffs" by the IT giant, alleging that Cognizant was illegally terminating thousands of employees.

    Techie, and worried about layoffs? These 20 skills can help you stay relevant

    Jobs replaced by automation do not go for good. You can beat the gathering gloom in job market by equipping yourself with the latest tech skills.

    Not pessimistic on IT jobs, startups should help: Urjit Patel

    While there could be pressure on employment in some of the IT sectors, it is not necessarily in terms of literally a job destruction, said Urjit Patel.

    Donald Trump blamed for job losses as India tech workers face cuts

    Cognizant, Infosys, Wipro won’t disclose how many jobs they cut, but it appears the industry is going through one of the largest retrenchments in its history.

    Government allays IT job loss fears, says working on H-1B issues

    Sundararajan said the industry was continuing to grow at 8-9% this year, same as last year, and reports of massive job losses in the industry were untrue.

    If you are techie with 5-15 years experience & based in a small city, this should worry you

    According to executive search firm Head Hunters India, job cuts in IT sector will be between 1.75 lakh and 2 lakh annually for next three years.

    Job cuts at Indian outsourcing firms aren't Donald Trump's fault. Read why

    Global corporations, the paymasters of Indian software vendors, are no longer so keen to ante up for application development and maintenance.

    No downsizing, to hire more: TCS chief Rajesh Gopinathan

    "We are here to create jobs, not to downsize," he asserted after TCS launched a BPO centre here to create new opportunities as part of the government's Digital India push.

    AIITEA mulls IT Employees United Front to address layoffs

    "We are planning to organise a united front of IT employees associations to hold talks with Karnataka govt to resolve the issue," an AIITEA official said..

    Sad over recent IT layoffs, says Narayana Murthy

    Infosys had announced that it could hand out pink slips to hundreds of mid and senior-level employees as it carries out bi-annual performance review.

    Combined capabilities of TriZetto & Cognizant can let us cash in on big opportunities: Rajeev Mehta, CEO of IT services, Cognizant

    "We have to retrain and reskill our staff and I think you saw a conscious effort on that over the last couple of quarters….we still have some work to do."

    Why IT firms could soon be forced to let the senior techie go

    Emerging technology poses a big threat to jobs and companies. It can force companies to rationalise workforce and even finish certain jobs.

    It’s the turn of Pune techies to complain of ‘illegal’ layoffs

    Former employees of IT firms including Cognizant, Tech Mahindra and Wipro in Pune on Thursday filed separate petitions with the Maharashtra Commissioner of Labour against their former employers saying that their services have been terminated illegally.

    Layoffs scare is real, not exaggerated, finds ET's Jobs Disruption survey

    The stark takeaway from ET's Jobs Disruption survey of nearly 11,000 employees is that the fear of job losses is not overblown but a near-term reality.

    No mass layoffs by Indian IT companies, workforce realignment happens every year: Nasscom

    "Such reports are incorrect. In fact the industry continues to be a net hirer with over 1.5 lakh people being employed on a net basis each year," Nasscom said.

    Cognizant pushes back salary hikes, promotions for staff by 3 months

    In an email sent to employees from Jim Lennox, CTS's chief people officer, said revisions and promotions will be effective from October 1.

    11 Tech Mahindra employees move labour court

    Last month, Mahindra Group Chairman Anand Mahindra had tendered apology over the manner in which an employee of Tech Mahindra was asked to quit.

    IBM India staff still battle tech blues fearing more layoffs

    From around 1.65 lakh employees on its payroll in 2011, IBM's India headcount is expected to slide to one lakh by March this year.

    Cognizant to reopen dialogue with 8 employees who claim they were forced to resign

    The development on Friday is a hard-earned relief for the eight employees fearing the axe amid reports of higher-than-expected non-performer exits from the IT firm.

    Employee separation offer first time in India and US: Cognizant

    The programme gives participants a chance to explore other opportunities while making way for the next generation of leaders to step up.

    Cognizant relieving 6,000 Indians to hire in US? Techies up in arms

    A bunch from the workforce in Chennai is preparing for conciliation proceedings with the state labour department in what they claim is a fight against retrenchment.

    Infosys, TCS other IT stocks tank on Cognizant buzz, rupee rise

    Domestic IT giants are bracing for tougher rules for H-B1 visas in the US and disruptions due to new technologies

    Is Bengaluru being Bangalored? Layoffs, job loss fears leave techies reeling under uncertainty

    Multiple factors — prospect of a stricter US visa regime and the automation of certain jobs in the sector — have led to the latest retrenchment cycle.

    We are confident that what we are doing is good for the US economy: Francisco D'Souza, Cognizant

    "As digital becomes more prevalent we are looking for skills like design talent and data science and we will hire those folks in other parts of the world, the US included."

    US government goes tough on Indian IT outsourcing; deals with Disney, Fossil under lens

    The latest contract to be scrutinised is one with Walt Disney, which recently signed a deal with US-based Cognizant Technology Solutions.

    Headcount cut as companies rush to automate IT, 4 out of top 6 report decline

    Though reports of companies laying off employees have been surfacing since long, this is the first quarter in which these many companies have reported a dip in employee numbers.

    How to ensure a stable career and be free from job worries

    The need to secure and sustain a good job is critical. Find out how to ensure a stable career and free yourself from job concerns.

    SMAC, an emerging career for the millennials in IT and startups

    Since SMAC is going to revolutionise business models across corporate India, other sectors are also likely to embrace it, creating a large number of new jobs.

    Using social media to find the right job

    Social media is no longer a place for teenagers to post selfies. It can be a powerful tool to make you ready for next career move, to augment job search.

    Infosys braces for bigger cost blow as Vishal Sikka bulks up on highly-paid talent

    Infosys is paying over Rs 1 crore to more than 1,800 employees in its overseas locations and it plans to hire 10,000 more in the US.

    IT industry's plan of creating more jobs not rooted in reality: Head Hunters India

    The Indian IT industry, according Head Hunters, is likely grow 8-9 per cent in FY2017 and could grow at the same pace or accelerate in FY2018.

    Infosys defers salary hikes till July; no job cuts planned

    For employees ranked JL5 (job level 5) and below — typically those with less than eight years of experience — the compensation review will be effective from July.

    Can Cognizant write its success story with a robotic automation drive?

    Francisco D’Souza said by implementing IPA technologies, Cognizant is driving savings and transforming core processes to help companies become digital enterprises.

    Reports of job losses overstated, to hire 20,000 this year: Infosys

    "Layoffs are regular, performance-based things that we do every year. The number is really 300-400," Infosys COO UB Pravin Rao said.

    Bulk hiring by IT companies at tier-2 & 3 engineering colleges and B-schools may get hit hard

    Placement heads across colleges said they are keenly tracking developments on layoffs, visa issues, etc, and ensuring students are kept in the loop.

    Sacked IT employees approaching unions for support

    Retrenched employees claim their former employers pressured them to hand in resignations instead of firing them, thereby saving on the expense of severance pay.

    Now jobs losses at IBM India, 5,000 employees under fire

    IBM did not confirm the number of employees who will be affected but said that "re-skilling and rebalancing is an ongoing process as we accelerate the benefits of cloud technologies for clients."

    A union for techies is slowly taking shape in Tamil Nadu

    Tamil Nadu, home to an estimated four lakh IT professionals, is witnessing increasing job losses typically among middle-level managers.

    Retrenchments common in IT industry: Telangana minister K T Rama Rao

    A few employees of Cognizant recently approached the state Labour Department alleging that the IT company was forcibly taking resignations from employees citing poor performance.

    Bleak future ahead for sacked IT employees: Experts

    Since the situation may get more acute, professionals may be forced to switch industries and look for jobs in emerging sectors such as fintech or ecommerce.

    ​Why job prospects in IT outsourcing will only get worse in the coming years before they get better

    With opportunities shrinking and markets transforming, a fifth of 40 lakh Indian software engineers are likely to lose their jobs by 2020.

    Indian techies take to social media to vent their ire

    The job cuts are also affecting mid-to-senior employees who are at the centre of the reskilling and restructuring conversations happening across the sector

    IT companies tighten costs, hire less experienced staff

    To retain margins, IT cos are increasing proportion of fixed cost projects in revenue, tightening costs and recruiting more freshers, less experienced staff.

    Now Tech Mahindra looks to lay off hundreds on 'performance' ground

    The company did not specify the number of employees that could be asked to leave. Industry sources suggest that the number would run into hundreds.

    Nearly 1,000 senior, mid-level Infosys employees may be asked to leave

    Large IT services firms, according to reports, are in the process of laying off employees on a scale not seen since the 2008-10 downturn.

    Capgemini to complete iGate merger by June, rules out job cuts

    "By June it should be over," Capgemini India Chief Executive Srinivas Kandula told PTI today on the sidelines of the Nasscom summit here.

    Satyamites fear of layoffs as Tech Mahindra takes over

    As customers seek to lower IT spend, many Satyam employees fear that Tech Mahindra could look at rightsizing the company.

    Cognizant bucks trend, to hand out good bonus

    The IT major, which has most of its facilities in Chennai and Bangalore, is paying employees the full variable pay component this year. Cities that are IT hubs | Nine trends for IT

    Threat of job loss: IT executives re-skill themselves in newer technologies

    Nasscom says the software industry, which employs over 3 million professionals, will see a 17% decline in annual hiring.

    Wipro CEO TK Kurien poaches star performers from rivals to replace middle, senior level executives

    TK Kurien is poaching star performers from rival firms as he approaches the final stages of a mass cull of middle and senior management staff.

    Job market is still working for consumers

    Consumption is critically dependent on employment, and the job market news is not bad. But employers, like everyone else, want strong policy signals.

    Indian IT companies like MindTree, Infosys, Wipro deny hiring freeze because of US market worries, analysts keep fingers crossed

    Recruitment agencies and experts tracking IT sector warned that these companies are already going slow on hiring experienced professionals.

    Amid Covid gloom, there is a good news for employees

    Four out of five companies of 500 surveyed by Aon in May said they are not instituting across-the-board pay cuts. And nearly 70% said they would not lay off employees due to Covid-19. Here is a snapshot from a survey done by Aon.

    Lockdown, Day 64: Hopes high, spirits down

    In other news, Sensex jumped 996 points led by massive gains in banking and IT stocks with Axis Bank leading the pack.

    Automation, AI continue to offer rich promises to Indian IT companies

    The advent of new technology paradigms like robotics, AI, blockchain and IoT is changing how companies and individuals consume technology and for the Indian businesses to remain successful, an update to the technology of tomorrow, today will be needed, Nasscom Senior VP and Chief Strategy Officer Sangeeta Gupta said.

    Are you a senior-level employee in an IT firm? There's bad news for you

    Large IT services companies are all in the process of laying off employees on a scale not seen since the 2008-10 downturn.

    Why being a techie in India is no longer cool

    Working with a technology company in India today is fraught with risks. Indian IT is facing several challenges which has taken the sheen off the sector.

    Infosys chief Vishal Sikka calls on FM Arun Jaitley

    Over the past few months, Indian IT companies are confronted with closer scrutiny and tighter visa norms in the US, a market that accounts for nearly 60 per cent of India's IT exports.

    Not correct to assume IT industry going for big job cuts: Government

    "Some of the companies which have been named (as undertaking job cuts) have clarified that there is nothing big this year," she said on the sidelines of Broadband India Forum event.

    Job losses in tech sectors may reduce home sales in IT hubs

    However, experts said the situation definitely does not warrant such panic, especially at a time when residential market is seeing the green shoots of a recovery.

    How Kunal Bahl sold the idea of Snapdeal 2.0 and what's in store

    Snapdeal 2.0 will see more layoffs, with some estimating the number to be over 1,000, decimating, a firm that at one point had a staff count of almost 10,000.

    Signs that you are likely to lose your job and how to prevent it

    Here’s how to find out if you are close to being laid off and the steps you can take in order to prevent it.

    If your job is 90% coding, then you have something to worry about

    The effect of automation and artificial intelligence still is not clear, and they could open up new areas that simply shift tech work rather than eliminate it.

    Top stocks in focus on Monday, 20 March 2017

    Even if the market turns rangebound for in a broader consolidation move, expect plenty of stock-specific action in a market that looks flush with foreign portfolio money.

    Credit Suisse plans to cut down outsourcing to Wipro

    Swiss bank Credit Suisse, which announced global layoffs of 5,300 last week, is significantly reducing work to Wipro.

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