Tuesday, Sep 22, 2020 | Last Update : 10:04 PM IST

182nd Day Of Lockdown

Maharashtra122438091634833015 Andhra Pradesh6317495518215410 Tamil Nadu5473374919718871 Karnataka5268764233778145 Uttar Pradesh3588932895945135 Delhi2492592133045014 West Bengal2283021989834421 Odisha184122149379763 Telangana1726081419301042 Bihar169856155824870 Assam159320129130578 Kerala13863398720554 Gujarat1247671051913337 Rajasthan116881972841352 Haryana113075908841177 Madhya Pradesh108167836182007 Punjab99930754092860 Chhatisgarh8618347653680 Jharkhand7267358543626 Jammu and Kashmir65026421151024 Uttarakhand4177729000501 Goa2875322726360 Puducherry2319118065467 Tripura2227215441245 Himachal Pradesh124387836125 Chandigarh102987411123 Manipur9010683859 Arunachal Pradesh7385540813 Nagaland5544445110 Meghalaya4733252838 Sikkim2447190529 Mizoram158510120
  Business   Companies  18 Nov 2019  IT companies may shed 30,000-40,000 mid-level staff: Pai

IT companies may shed 30,000-40,000 mid-level staff: Pai

PTI
Published : Nov 18, 2019, 5:04 pm IST
Updated : Nov 18, 2019, 5:04 pm IST

Pai said about 80 pc of those who lose jobs would have employment opportunities in industries in general if they are specialists.

IT industry veteran T V Mohandas Pai.
 IT industry veteran T V Mohandas Pai.

Bengaluru: India's information technology services companies may shed 30,000 to 40,000 middle-level employees this year as growth slows down, IT industry veteran T V Mohandas Pai said Monday.

The former Chief Financial Officer of IT major Infosys Ltd termed these job losses as once-in-five-years normal phenomenon with maturing of the industry.

 

"As in all sectors in the West, in India too when a sector matures so many people will be there in the middle level who will not be adding value to the salary they get," Pai told PTI.

Promotions are okay when companies are growing fast but when it slows down, people getting fat salaries will aggregate at the higher level, prompting companies to periodically reset their pyramids, and shedding people, he said.

"It's going to happen again and again and again every five years," said Pai, Chairman of Aarin Capital and Manipal Global Education Services.

"Nobody is entitled to a fat salary and high-paying job unless you perform, right? You have to deliver value". "All across industry, may be 30,000 to 40,000 in a year...," he said when asked about the number of middle-level staff who would lose their jobs.

 

But Pai said about 80 per cent of those who lose jobs would have employment opportunities in industries in general if they are specialists. 

Tags: information technology, mohandas pai, staff, job
Location: India, Karnataka, Bengaluru