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EXCLUSIVE-Hit by slowing growth and automation, IT industry has started sacking freshers

While not stark just yet, the numbers for fresher layoffs and lack of opportunities are beginning to speak for this phenomenon.

March 13, 2019 / 12:45 PM IST
Job loss | The pandemic has wreaked havoc on the job landscape in India. According the Centre for Monitoring Indian Economy (CMIE) about 21 million salaries employees lost their jobs during April-August. There were 86 million salaried jobs in India during 2019-20. In August 2020, the count was down to 65 million after 3.3 million jobs were gone in the particular month, mostly among the industrial workers and white collar workers, as per the CMIE. (Image: Shutterstock)

Job loss | The pandemic has wreaked havoc on the job landscape in India. According the Centre for Monitoring Indian Economy (CMIE) about 21 million salaries employees lost their jobs during April-August. There were 86 million salaried jobs in India during 2019-20. In August 2020, the count was down to 65 million after 3.3 million jobs were gone in the particular month, mostly among the industrial workers and white collar workers, as per the CMIE. (Image: Shutterstock)

 
 
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If you are a young software professional still flush with the excitement of being hired from campus a year or so ago and cherry-picked for training programmes, take a deep breath before you read this.

Anecdotal evidence shared with Moneycontrol suggests that companies are sacking youngsters within a year of having hired them as they get increasingly desperate to cut costs in the face of slowing growth and automation.

“I was a fresher. I joined Tech Mahindra in 2016 and was asked to leave in 2017 June. And I was trained in a technology which has demand in market. We were moving from our second base location when we got a call at the railway station from human resources, asking us to put in our papers,” said a former employee of Tech Mahindra, speaking on condition of anonymity.

“When we said we don’t have access to the internal system, we were asked to share our passwords with our friends in the company so they could file our resignations,” the person said.