Commenting on recent media reports of mass layoffs by IT companies in India, IT Industry lobby body Nasscom said that such reports are incorrect. Nasscom claims that IT industry is hiring 1.5 lakh people every year. “In fact the industry continues to be a net hirer with over 1.5 lakh people being employed on a net basis each year, though the focus is shifting from scale to skill,” said Nasscom.
On recent layoff in some Indian IT firms, Nasscom said “Workforce realignment linked to performance appraisal processes is a regular feature every year.” “Talent and skills are the key building blocks for the industry which is intensifying investment in in skilling / reskilling its workforce to strengthen its foundation on a continuous basis,” said Nasscom.
Nasscom said that skilling and workforce realignment are essential to remain competitive in international markets. It needs to be appreciated that such workforce realignment is a normal part of the internal process of companies based on their own operational imperatives; companies evaluate their priorities and business imperatives and continuously align talent to serve their needs and enhance competitiveness.
Nasscom in a statement, reiterated that no significant changes have been reported or observed this year.