News: IT jobs to see steady decline in the coming years

Recruitment

IT jobs to see steady decline in the coming years

There will be a steady dip in hiring in the IT Sector due to rise of automation and decreasing profit margins.
IT jobs to see steady decline in the coming years

 

According to IT body NASSCOM, the IT sector will face lower fresh hiring than last year as the IT companies are facing pressure on profit margins and also because these companies are turning to automating people intensive jobs.  

“Automation and declining profit margins will see hiring stay flat or decline, marginally, this year”, quoted R Chandrasekhar, President, NASSCOM to The New Indian Express. 

NASSCOM says that 5-10% of jobs might become automated and 60-70% of jobs will have to reskilled. They believe that the existing jobs will be replaced by new ones in emerging technologies. However, there is a mismatch between the skills required for these jobs and the obsolete skills that the universities are teaching these students. 

BVR Mohan Reddy, Chairman of NASSCOM’s Sector Sills Council has said that it is a global problem, and India needs to stay ahead of the curve.  

“In short, for the next two years, we are still quite optimistic. Our fundamentals are stronger than others (countries)” quoted Chandrasekhar to Economic Times. 

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Topics: Recruitment, Technology, #Jobs

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