It Jobs Crisis

McKinsey starts eliminating around 360 jobs as client demand slows

The firm has warned about 3,000 of its consultants that their performance was unsatisfactory and will need to improve

Working professionals have job redundancy fears over emerging tech: Report

A majority of working professionals are concerned about job redundancy due to emerging technologies and believe that upskilling could help them navigate in the rapidly changing work landscape, says a report. The report drew insights from a comprehensive survey that reached out to 2 lakh individuals, consisting of students, working professionals, and academicians. "A significant 82 per cent of working professionals expressed concerns over potential job redundancy due to emerging technologies. This finding underscores the unease within the workforce about the impact of evolving technologies on job security," the report by Hero Group company, Hero Vired, said. Despite these concerns, the report said 78 per cent of working professionals recognise upskilling as a proactive strategy to navigate the rapidly changing work landscape. This acknowledgment reflects a growing awareness of the need for continuous learning and skill enhancement to stay relevant in today's dynamic job market, it .

IT hiring slowdown to continue for 2-3 quarters, global slowdown to blame

Sekhar Garisa, CEO of foundit, said that companies do not need as many designers and content writers as before since technology can help make some of these jobs more efficient

Functional skills like testing, ERP in demand amid muted IT hiring: Report

Even as recruitment in the IT sector remained muted, demand for talent with functional skills like ERP, automotive design, testing and administration continued to surge in the second quarter of this financial year, a report said on Tuesday. Hiring remained muted in the IT sector, as organisations have adopted a wait-and-watch approach in light of geopolitical tensions, putting a hold on discretionary spending, said 'Skills Report' by business solutions provider Quess Corp. However, with the IT sector the demand for talent with functional skills such as development, ERP (enterprise resource planning), automotive design, testing and administration among others continued to surge during the second quarter of FY24, it added. "For the first time in recent history, large IT services companies have shown a decline in headcount and reduced guidance values, signalling a collective exercise of caution in navigating the future. We believe this uncertainty will continue for a quarter or two ...

Edtech giant Byju's regrets 'delays' in settling dues of laid-off employees

According to the new timeline provided in an email to sacked employees, employees can now expect to receive their outstanding payments by November 17, as against the earlier September 15 deadline

IT companies enforce cost control measures amid rising employee expenses

Attrition rates of TCS dropped from 20.1% to 17.8%, HCL's from 19.5% to 16.3%, and Wipro's decreased from 19.2% to 17.3% all in the last quarter

AI won't be a threat to jobs for next 5-10 years: Rajeev Chandrasekhar

'It is disruptive… will regulate against user harm'

Demand for white-collar jobs in IT sector lowest in 28 months: Report

The number of active white-collar job openings decreased by 21% in April compared to March, said the report

Vroom lays off 11% of workforce as part of 'organisational restructuring'

US-based online used-vehicle retailer Vroom has laid off 11 per cent of its workforce, or around 120 employees, across different departments and locations

Amazon layoffs 2023: Employees loose jobs in AWS Cloud Division

Amazon Web Services personnel in the US, Canada and Costa Rica whose jobs were being eliminated were notified early Wednesday, the unit's chief said in an email to staff

Disney to begin 2nd wave of layoffs, may cut 7,000 jobs to save $5.5 bn

On March 27, Disney began notifying employees who were affected by the workforce reductions, and said a second, larger round would occur in April

Half a million white-collar job cuts since Oct 2022: Is this just a start?

There have been more than 500,000 job cuts announced around the world since October, as tracked by Bloomberg

Overall hiring intent for freshers improves for Jan-Jun 2023: Report

Learning solutions provider TeamLease EdTech on Thursday said a large number of Indian employers have expressed their intention to hire freshers in the first half of this calendar year. According to TeamLease EdTech's Career Outlook Report for January-June 2023, in spite of the global gloom, Indian employers' intent to hire freshers has marginally increased by 3 per cent to 62 per cent, as compared to July-December 2022, when it stood at 59 per cent. TeamLease EdTech surveyed 874 large, medium and small businesses between October-November 2022 for this report. The top three industries with the most robust intent to hire freshers are information technology (67 per cent), e-commerce & technology startups (52 per cent) and telecommunications (51 per cent). Amongst the Tier I cities, Bengaluru comes at the top with maximum openings for freshers at 75 per cent, closely followed by Mumbai (56 per cent) and Delhi (47 per cent). "Even in the face of a global muted sentiments around team .

Fewer layoffs in 2023 1st half; senior professionals most impacted: Survey

Recruiters are foreseeing fewer layoffs in the first half of 2023, but information technology roles and those of senior professionals will be the most impacted within it, a survey said on Thursday. The survey of 1,400 recruiters and consultants by the job portal Naukri.com said only 4 per cent of respondents predicted layoffs and downsizing not to be the dominant hiring activity in their organisations. However, the survey of recruiters across ten sectors said that information technology roles will be witnessing the maximum impact of hiring corrections, while there will also be some impact in roles in the business development, marketing, human resources and operations fronts as well. "Recruiters foresee maximum layoffs for senior professionals, with 20 per cent of recruiters predicting the same. Freshers are expected to be least impacted by hiring corrections," the bi-annual survey by Naukri.com said. The survey said that around half of the recruiters expect high attrition rates of

Belt-tightening measures key to surviving pink slip, say experts

Cautious spending, reduced debt burden, and opting for gig work can help

Infosys runs 'Accelerate' to avert moonlighting, says it supports learning

Infosys supports 'gig work' for employees but is against dual employment, has fired people who were moonlighting, CEO Salil Parekh said in a media interaction on Thursday

EPAM sacks around 100 Indian employees, revokes offer letter of others

At least EPAM 100 employees, across testing, .Net, DevOps, and Java domains in both firms - EPAM Systems and EPAM Anywhere - have been asked to resign

Microsoft, Google among tech giants to pause hiring amid fear of recession

With recession fears mounting-and inflation, the war in Ukraine and the lingering pandemic taking a toll-many tech companies are rethinking their staffing needs

Why job losses are inevitable in IT

Firms have to move from just scale to building a smaller, more specialised talent pool

Cognizant plans another round of layoffs to slash costs, says report

Cognizant is also exercising tighter control over expenses through a number of measures, including a slower pace of hiring and reduced travel expenses