Software companies dramatically improved their ability last year to earn more revenue while employing fewer people, reflecting the major transformation underway in a sector that has created a new middle class in India. While the development is good news for information technology companies, it is also a warning sign for employees in the software industry and for students looking to make a career in an industry that used to hire thousands of employees every year. Between April 2013 and March 2014, the IT industry added only 13,000 employees for every billion dollar of revenue, according to data from software industry grouping Nasscom. During the year to March 2013, it needed 26,500 employees.
Read the Economic Times news report here.