After a substantial lay off by IT majors, the sector was taken aback by the vulnerability of their job security. However, an expert has branded it as a regular restructure, essential to counter industry slowdown. It was a phenomenon that is taken up every three to five years, said IT expert TV Mohandas Pai, adding that the current hype is for nothing.
“The companies are laying off just about two to three percent. This is not that big a number. It is normal for companies to take up this restructure exercise every three to five years,” he said.
The former member of Infosys’ board of directors said, “When global business numbers fall, sometimes it is a cause of carrying out a lay off. The government need not intervene in this matter. Government can guarantee jobs, but the IT sector is not like that. Companies are accountable to a third party, which is not the case in the public sector,” he added.
Reports of major planned lay off by IT majors, including Infosys, Wipro, Cognizant and HCL, among others doing rounds.