Nasscom Dismisses Reports of Mass Mass Layoffs by Indian IT Companies
The apex Indian IT industry body Nasscom on Friday dismissed reports appearing in a section of the media about mass layoffs by software firms.
NASSCOM President R. Chandrashekhar. (Getty Images)
Bengaluru: The apex Indian IT industry body Nasscom on Friday dismissed reports appearing in a section of the media about mass layoffs by software firms.
"Recent media reports of mass layoffs by IT companies in India are incorrect," said the National Association of Software and Services Companies (Nasscom) in a statement.
Claiming that the industry continued to be a net hirer, with over 1.5 lakh people being employed on a net basis each year, the apex IT body said the focus was shifting from scale to skill.
"Talent and skills are the key building blocks for the industry, which is intensifying investment in skilling or re-skilling its workforce to strengthen its foundation on a continuous basis," said Nasscom.
Noting that workforce realignment linked to performance appraisal processes was a regular feature every year, the industry watchdog said skilling and workforce realignment were essential to remain competitive in international markets.
"Workforce realignment is a normal part of the internal process of companies based on their operational imperatives," pointed out the statement.
Companies evaluate their priorities and business imperatives and align talent to serve their needs and enhance competitiveness.
"No significant changes have been reported or observed this year," the statement added.
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