Here’s some bad news for job seekers in the IT sector

The Indian IT sector is facing rough weather and to add to the worries of job seekers, Nasscom said the IT industry will create 20-38% fewer jobs this fiscal.

While the IT sector added 1.8 lakh jobs in FY17, the FY18 will see less job creation and the industry would create 1.3-1.5 lakh new jobs.

One of the reasons of the job loss is automation, Nasscom president R Chandrashekhar said automation was leading to job loss but new ones are also being created.

Companies are now focussing on automation and restructuring its workforce to deal with automation and achieve cost savings.

TCS and Infosys cut down their staff to trim costs.

"Tech is eliminating jobs in every sector, including IT. It is also creating jobs. Countries like the US and UK have been adopters of technology and have experienced the same cycle. Today , their unemployment levels are close to zero. While there is job loss and pain, ultimately , it is the only route to economic prosperity ," said Chandrasekhar.

In India, IT sector is considered to be largest job market.