| From the source article - http://www.livemint.com/Industry/4CXsLIIZXf8uVQLs6uFQvK/Top-... > Preparing the ground for layoffs, each of these seven companies has already put a higher number of employees on notice by awarding them the lowest ratings. Cognizant has placed more than 15,000 employees in the lowest category (bucket IV), and Infosys has placed more than 3,000 senior managers in the category of employees needing improvement. This isn't 56k entry level jobs. This is 56k jobs up and down the structure of the companies. > As IT companies start working on newer technologies such as cloud computing, they are fast moving from a people-led model, which means they need fewer employees. Meanwhile, many of the IT companies have embraced automation tools to perform the mundane, repeatable tasks that were performed by an army of engineers earlier. > “The entire pyramid structure (organizational structure) is getting disrupted,” the second HR head cited earlier added. > That speaks of a bigger problem, said an expert. > “What required 50 programmers, analysts or accountants 5 years ago can be done by a handful of smart thinkers and much smarter systems,” said Phil Fersht, CEO of US-based HfS Research, an outsourcing-research firm. “If I were Prime Minister Narendra Modi, I would be very concerned that a whole workforce generation needs reorienting to address work activities that are growing in demand.” None of the articles speak to where the people who have lost their jobs are going. |