Clipped from: https://economictimes.indiatimes.com
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.
NEW DELHI: Thousands of information technology professionals have lined up in the job market over the last three weeks as IT companies, including IBM and Cognizant, have resorted to layoffs and job cuts to overcome the impact of the COVID-19 pandemic.
Recruitment firms have received at least a few tens of thousands of queries for entry to senior levels in IT services space.
“Over the last two weeks we have seen an almost 100% jump in resumes flowing in from leading IT services organisations,” said Ratna Gupta, senior director at ABC Consultants. “These companies are restructuring to become leaner, agile and future ready.”
People associated with projects that have recently been scrapped and those who lack skills and expertise in new and digital technologies are facing the biggest threat, staffing firm officials said.
Xpheno, a specialist staffing firm, has seen almost 40% spike in CVs from senior tech professionals from IT services companies over the last fortnight.
“Global IT services companies have automated their L1 support services and reduced that headcount significantly over the last 2 years; Covid-19 has accelerated the pace of that reduction in the last two months, and the trend will continue till they feel the balance has been achieved,” said Kamal Karanth, cofounder at Xpheno.
Among firms that have gone for significant job cuts are global IT majors IBM and Cognizant that have initiated major restructuring and cost-management measures in recent times.
IBM did not respond to queries sent over email as of press time Tuesday.
In an email response to ET’s queries, Cognizant spokesperson said that the company had nothing to add.
In the firm’s latest earnings call, CFO Karen McLoughlin had said the company expected its “net head count to decline in 2020 versus 2019”. “…we are aware that there are likely to be employees who are or will become unutilised, for whom we do not foresee those opportunities… The size and timing of these changes will unfold as the demand environment becomes clearer,” she had said.
DIGITAL SKILLS IN DEMAND
Despite the overall job cuts in the IT industry, demand for digital and new technologies talent have increased 20% in the lockdown period, they said.
“Digital skills will continue to be in demand this year too even as businesses deal with a slowdown on the demand side,” said Sangeeta Gupta, senior vice president at software industry body Nasscom. “Companies will continue to invest in upskilling their employees for the upturn,” she said.