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IT industry hit by shortage of projects
For the $100 billion IT industry, shortage of projects from Europe and the US has forced software engineers to sit without projects for more than six months now, and utilisation rates could dip further with new campus recruits joining the workforce from this month. A comparison of the employee utilisation rates across top IT companies shows a steep decline over the last six months. This is expected to worsen in the coming quarters as new recruits join the workforce from this month onwards. The economic environment, pricing pressure and decreased employee utilisation rate could impact revenue and operating results. Further experts say that with little hope of an upward revision in the 11 percent growth forecast made by software industry association Nasscom, IT companies are under pressure to downsize.
Source: The Economic Times
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