Job shock in IT sector: Firms to step up layoffs, pare hiring: Survey

While senior staffs are likely to lose out on jobs, hiring will take place mostly at junior, mid levels

With job creation seen as the Narendra Modi government’s biggest failing, media reports that the information technology (IT) firms will further slow down their hiring pace over the next two quarters comes as a bigger blow to the Centre.  

"The job market has undergone an overhaul owing to technological advancements and the dynamic economic scenario. The country's GDP growth declined 2 per cent to 5.7 per cent in the June quarter of 2017 compared to 7.9 per cent in the corresponding quarter of the previous year," Modi said, adding efforts should be made to improve this to spur further