1.75 lakhs to 2 Lakhs Techie to lose jobs annually in the next 3 years
ITES sector the layoffs will be between 1.75 lakh and 2 lakh annually for next three years due to under preparedness to adopt new technologies like Artificial Intelligence(AI),Cloud Computing,Robotics Automation and Analytics etc where the mainstream media reports of 46,00-58,000 IT professionals to lose jobs this year, McKinsey & Company report had said nearly half of the techies in the IT services firms will be "irrelevant" over the next 3-4 years. its a big challenge to IT companies to plugin the gap. where 50 to 60% techies will be re-train and re-skills and rst of around 30-40% techies cannot be re-train and re-skills. this layoff definitely hit the campus recruitment at top Engineering college in odisha where 70-85% students being placed at IT Companies.