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Employees of domestic and international information technology companies in India are claiming they were not fired, instead were forced to resign by their employers to save severance package. IT professionals are facing a tough time as the industry is handing over pink slips to employees in a bid to trim costs amidst a slowdown. Employees are now alleging they were pressured to resign. "I was given two days' time to resign and with no compensation. I have a child and a home loan to pay, I need a severance to keep me going until I find my next job at least. I did not join the company over one phone call, right? Why should I accept resignation over a call?” one the employees told ET. The employee has now approached Bengaluru-based IT/ITes Employee Centre (ITEC), which is dubbed as welfare association for IT employees. Likewise, many employees are approaching unions over forced resignations. However, technology industry expert Siddharth Pai told ET that the companies were not being unfair to the employees. "Companies would not have paid as much as the employees expected. But, contractually they would have met all the obligations. I don't think it is a fair allegation to make,” Pai, founding partner of 3one4 Capital, told ET. "We get so many calls every day about companies forcing employees to resign. We got close to 200 phone calls in the last 3 weeks in our helpline number. Publicly companies are denying any retrenchment, but they are forcing people to resign on the other side,” an ITEC spokesperson told ET. Also, employee unions such as Chennai-headquartered Forum for IT Employees (FITE) and IT-wing of National Democratic Labour Front (NDLF) say they are seeing more IT employees reaching out to them seeking legal counsel. On the flip side, law on unionisation in the IT industry in Karnataka is somewhat ambiguous. The Indian IT is no stranger to unionisation. After the global financial meltdown in 2008, there were attempts to form unions in the IT industry after there were job cuts, but the industry bounced back a year later and hiring by IT companies resumed on full swing.

Retrenched employees say they were forced to resign; approach unions

<ul><li>Global IT majors will have to bear the brunt of a strong US dollar, despite expectations of revenue growth.</li><li>Back home, Indian IT giants are bearing the brunt of concerns of a potential recession in the US and Europe.</li><li>Several economists have predicted that the US, the world’s largest economy, could slip into recession in the near term.</li></ul>While <keyword id="6357549" type="General" weightage="20" keywordseo="indian-it-companies" source="Orion">Indian IT companies</keyword> are worried about a potential slowdown due to recession, their global counterparts have already started factoring in the impact on their profitability and revenues because of it. The fact that two overseas IT giants – <keyword id="6370971" type="General" weightage="20" keywordseo="accenture" source="Orion">Accenture</keyword> and <keyword id="28721" type="General" weightage="20" keywordseo="cognizant" source="Orion">Cognizant</keyword> – have lowered their growth numbers says a lot about the bleak outlook for the sector because of rising inflation and currency headwinds. Accenture cut earnings per share for 2022 to $10.61-10.70, compared with its previous estimate of $10.61-10.81. The Russia-Ukraine war also had an impact on its earnings as it decided to close down its Russian business. The company said it expects a negative foreign exchange impact of 4.5% in fiscal 2022, worse than its previous forecast of a 3% forex hit, as per a <a href="https://www.reuters.com/business/accenture-beats-quarterly-revenue-estimates-2022-06-23/">Reuters</a> report. Note that Accenture makes more than half of its revenue from outside the US. A strong US dollar means weakness in other currencies – this has an adverse impact on companies with exposure to currencies other than the dollar. Confirming the bleak environment to make money, even Cognizant lowered its revenue guidance to 9-11% in constant currency terms as compared to 8.5-11.5% earlier. “Results were strong though the focus of the Street has shifted to impact on business in a recessionary environment,” said a report by Kotak Institutional Equities. A recession in the US and Europe will impact Indian IT companies directly Stocks of Indian IT companies have seen a major correction this year, as a surging inflation and the rising interest rates reduce the spending power of their clients in the US and Europe. Post the breakout of the Covid pandemic, Indian IT giants TCS, Infosys and Wipro reported record earnings as their clients rushed to digitize their operations to meet their growing IT needs. Now, it looks like the era of record growth is over, leading to sharp corrections in stock prices. <div type="image" title="IT firms top 5 companies" height="900" width="1200" msid="92437564" hostid="261" sizebytes="55924"></div> "The stock price correction (in Indian IT firms) has largely been due to de-rating of valuation multiples, as earnings estimates have largely remained intact or seen minor downgrades. The reasons for this sharp derating, as we mentioned above, are largely related to the global macro environment,” said a report by Phillip Capital. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/may-is-the-first-month-of-2022-when-startups-raises-less-than-2-billion/articleshow/92432430.cms">May is the first month of 2022 when startups raises less than $2 billion</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/mm-shares-hit-52-week-high-on-the-back-of-rural-revival-more-good-news-in-store/articleshow/92432812.cms">M&amp;M shares hit 52-week high on the back of rural revival – more good news in store</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/okinawa-electric-scooter-showroom-in-mangaluru-catches-fire-several-scooters-destroyed/articleshow/92433747.cms">EV fire – Okinawa electric scooter showroom in Mangaluru catches fire, several scooters destroyed</a>

Accenture, Cognizant could see revenue growth but a strong US dollar could spoil the party

Top IT firms in India are facing what could be one of their worst quarterly results in the recent past. An already poor performance in usually week Q3 was further damaged by Chennai floods and a general slowdown in the money spent on technology globally. 
 Even as the Indian IT industry stands at $146-billion today, Indian tech giants like <keyword id="6357150" type="CITY" weightage="100" keywordseo="TCS">TCS</keyword> and <keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword> can still fall short of Nasscom's 12-14% exports growth outlook for FY16. 
 
"Our modelling has factored in a certain figure for the likes of TCS (Tata Consultancy Services) - now we have to wait and see how the Q3 numbers turn out before we change our projections," an unnamed Nasscom executive told ET. 
 
Experts are of the opinion that India's top five software exporters may see a 1-2% fall in revenue, or at their level best, would be able to keep a flat performance, which means that they wouldn’t be posting any profits in Q3, which ends on December 31. TCS and <keyword id="10862" type="CITY" weightage="100" keywordseo="Wipro">Wipro</keyword>, two of India's largest software exporters, have already issued warnings for Q3, and are afraid that the dark patch may well peek into the next financial year. 
 
"This will be a pretty bad quarter for Indian IT - no two ways about it. If they even manage to post flat growth, it will be seen as a positive by investors," a foreign brokerage analyst tracking India's software outsourcing industry told ET. 2015 has proven to be one of the toughest years for IT service providers, mainly because of clients having cut back on their spending. 
 
To top it, Chennai floods forced many IT firms to shut their offices in the city for several days, adding to the damage that has been done. 
 
<a href="https://www.engageselling.com/blog/wp-content/uploads/2014/10/RefreshBlogOct7.jpg">Image source</a>

Did top Indian IT firms just face their worst ever quarter?

<ul><li><keyword id="6357549" type="UNKNOWN" weightage="20" keywordseo="Indian-IT-companies">Indian IT companies</keyword> are growing faster in the US market than Europe for the first time in three years.</li><li>Pressure from deal ramp ups, increasing visa costs, rising subcontractor costs and higher salary payouts has taken a toll on margins.</li><li><keyword id="6354512" type="COMPANY" weightage="20" keywordseo="Infosys">Infosys</keyword> and TCS are the worst hit by the lack <a href="https://www.businessinsider.in/amazon-facebook-apple-google-face-low-h1b-rejection-rate-while-deloitte-capgemini-suffer/articleshow/69734189.cms">of H1-B visa applications</a>.</li></ul>Indian IT sector has a lot to fear but has more to gain as well. Unlike many companies which are in the throes of a slowdown, the IT sector has bigger fish fry. European markets which are its mainstay are growing slow, and the US is dealing with recession fears. Adding fuel to the fire, the US government is making it tough for them to operate, with tighter immigration laws which are taking its toll. Yet, IT companies are showing signs of resilience. For the first time in three years, US led growth is ahead of growth from the European Union, according to Nomura’s market analysis. Ramping up operations in the US It will neither be cheaper nor easier to play a lot more in the US markets, as their ability to send employees to service the clients will not be easy. To counter the aftermath of diminishing manpower in the US, these companies have ramped up acquisition and large deals to make up for it. Infosys and TCS are the worst hit by the lack <a href="https://www.businessinsider.in/amazon-facebook-apple-google-face-low-h1b-rejection-rate-while-deloitte-capgemini-suffer/articleshow/69734189.cms">of H1-B visa applications</a>. Yet, these companies are trying to gain more clients in the country and adding manpower. The acquisition and deals, in turn, are the primary reasons why momentum in US markets is greater than growth in European markets at a yearly growth rate of 12.4%. And they will continue to gain more deals, believes Nomura. The negatives bearing IT down Increased number of large size deals is causing companies to miss margin estimates. Additional pressure from increasing visa costs, rising subcontractor costs and higher salary payouts has also taken a toll on margins. Hiring has grown at a yearly rate of 10% and attrition levels remain elevated at 17% to 22%. Three out of the four Indian IT giants — TCS, Infosys, HCL Technologies and Wipro — missing their growth expectations and all them missed margin expectations. Though IT companies chase other markets, they are not immune to Indian slowdown blues. The stagnation in growth is attributed to slowdown in banking, financial services and insurance (BFSI) coupled with <a href="https://www.businessinsider.in/auto-sales-continue-to-decline-in-august/articleshow/70941671.cms">softness in automobile manufacturing</a>. BFSI’s soft growth and the future outlook is an indicator of the challenges that IT companies are facing in capital markets, large EU banks and regional banks in the US. Retail growth was also flat at 7% to 9%. The brighter side of IT In spite of dragging factors, the IT sector has a few fast growth segments like energy which is growing at 12.7%. Telecom is also is growing at 13.9%. The IT sector, overall, is a part of a growing disruptive transition across the country and the world — digitisation. Digital growth has also been strong for IT companies like TCS, Infosys and Wipro during the first quarter for the current financial year. They have shown quarterly growth of 42.1%, 41.9% and 34.2% respectively. Going forward, Nomura expects Indian IT companies to price their products aggressively in a bid to win more market share. The IT sector is one of the core sectors of the Indian economy. GDP growth is at 5% — a six year low for the country — and re-energising the IT sector which is a huge chunk of services sector, is a key part of the puzzle. See also: <a href="https://www.businessinsider.in/amazon-facebook-apple-google-face-low-h1b-rejection-rate-while-deloitte-capgemini-suffer/articleshow/69734189.cms" style="">H-1B visas: US immigration seems to like certain companies more than others</a> <a href="https://www.businessinsider.in/us-h-1b-visa-rejection-rate-may-trigger-tech-ma/articleshow/69721592.cms" style="">Rise in US H-1B visa rejection may force Indian tech companies to look at M&amp;A</a> <a href="https://www.businessinsider.in/here-are-the-25-most-popular-workplaces-in-india-according-to-linkedin/articleshow/68704338.cms" style="">Here are the 25 most popular workplaces in India, according to LinkedIn</a>

TCS, Wipro, and Infosys are chasing growth but losing margins in the process

The Indian IT sector is going through one of its toughest phases ever, with less appraisals and innumerable layoffs being announced by almost every major IT company. This rough patch is also going to have its impact on the number of students hired from college campuses across the country. The placement season is about to begin in a few months, but colleges in tier-2 and 3 cities of the country are afraid that this year, companies might not come with a purpose of bulk hiring, like always. However, premium engineering colleges and B-schools are said to be safe from the impact of IT sector slowdown. The fact that IT companies are also stepping up their game to hire freshers in the US is also worrying non-premium colleges in the country. "One thing has emerged very clearly: jobs in the lower end of the value chain will not be outsourced. More skill-oriented ones will be outsourced, which in effect will mean only colleges with a better name, better teaching pedagogy and better knowledge capital can survive," Pinaki Dasgupta, dean-placement and corporate relations at <keyword id="480921" type="ORGANIZATION" weightage="100" keywordseo="International-Management-Institute">International Management Institute</keyword> told <a href="http://economictimes.indiatimes.com/jobs/bulk-hiring-by-it-companies-at-tier-2-3-engineering-colleges-and-b-schools-may-hit-hard/articleshow/58831474.cms">ET</a>. Placement heads across several colleges are keeping an eye on layoffs, visa issues, etc, while making sure that students are aware of the developments. "We are encouraging more students to go for higher studies," said Susanta Pramanik, head, training and placement at <keyword id="785220" type="UNKNOWN" weightage="100" keywordseo="NIT-Durgapur">NIT Durgapur</keyword>. "There are only jobs for the top-of-the-pyramid students; none for those at the bottom," said Rupamanjari Ghosh, vice chancellor, Shiv Nadar University.

No more bulk hiring by IT companies from tier-2 & 3 colleges

The <keyword id="396996" type="UNKNOWN" weightage="100" keywordseo="Indian-IT-industry">Indian IT industry</keyword> has, off lately, seen a number of companies resorting to layoffs, which is why software professionals with three-eight years of experience are increasingly afraid about their job security. To escape the worst, these techies are now focused at adding multiple skills to their kitty, which has resulted in a rise in the demand of courses from e-learning companies like <keyword id="2008319" type="UNKNOWN" weightage="100" keywordseo="Upgrad">Upgrad</keyword>, <keyword id="805453" type="COMPANY" weightage="100" keywordseo="SkillSoft">Skillsoft</keyword> and <keyword id="1309724" type="UNKNOWN" weightage="100" keywordseo="Simplilearn">Simplilearn</keyword>. These companies are offering courses in specialised areas like analytics and product management. "Professionals with management profiles are shifting to product management. We have doubled the number of batches to keep up with this demand," Mayank Kumar, co-founder, Upgrad, told <a href="http://economictimes.indiatimes.com/tech/ites/career-stagnation-layoffs-pushing-it-professionals-to-go-in-for-multi-skilling/articleshow/58903816.cms">ET</a>. Skillsoft, which is a digital learning platform, started to see applications from early birds over five-six months ago. "Those with over five years of experience, i.e. mid-level executives and project managers, are taking up courses in UI/UX (user interface/experience), machine learning, artificial intelligence and micro service architecture. Cyber security is another sought-after course," said Vinay Pradhan, CEO, Skillsoft. Similarly, Simplilearn, has seen a 43% rise in the number of working professionals from key metros in the last one year, especially in categories like digital marketing, data science, and sales force. "Professionals are not secure about their jobs anymore because of the recent layoffs. However, this environment is providing a big opportunity for lakhs of white-collared professionals to move out of their comfort zones and upskill themselves to remain employable. Automation and digital transformation has created an adapt-or-perish scenario. It's an alarming reminder that re-skilling is the only way out to be relevant," said Krishna Kumar, founder and CEO, Simplilearn. Industry experts are of the view that professionals concerned about career stagnation are looking forward to up-skilling and cross-skilling. "In today's fast changing business context, it is important for professionals to focus on continuous skill building. The good news is that there are plenty of resources available online, be it in the form of Massively Online Open Courses or specialised open enrollment courses," said Rajiv Jayaraman, L&amp;D expert and founder of KNOLSKAPE. (Image source Pine Tribe)

Here’s why an Indian techie needs to be multi-skilled

<a href="http://www.businessinsider.in/searchresult.cms?query=Indian+IT+sector&amp;sortorder=effectivedate">Indian IT professionals</a> are becoming worried over <a href="http://www.businessinsider.in/searchresult.cms?query=protectionism&amp;sortorder=effectivedate">protectionism</a> stance taken by countries such as US, UK, New Zealand, <keyword id="6355478" type="COUNTRY" weightage="20" keywordseo="Australia">Australia</keyword> and even Singapore. However, this doesn’t mean your professionals aspirations have come to an end, they have just shifted geographically. Amid tightening visa norms, experts in the hiring industry say <a href="http://www.businessinsider.in/searchresult.cms?query=IT+talent&amp;sortorder=effectivedate">IT talent</a> will have ready takers in Europe, the Middle East and Japan. Countries such as Canada, Africa and the Nordic nations could be the <keyword id="446905" type="UNKNOWN" weightage="20" keywordseo="IT-hubs">IT hubs</keyword> of the future. "While <keyword id="44380" type="UNKNOWN" weightage="20" keywordseo="protectionism">protectionism</keyword> has kicked in, local talent is still not available in these countries to meet immediate demand. Besides these, one can expect Canada, Latin America, South Africa and few other African countries as potential future markets,” Rituparna Chakraborty, executive vice president of TeamLease Services, told ET. Many hiring consultancies have begun working to skill Indians for other nations also. Kris Lakshmikanth, managing director at Head Hunters India, told ET, "Indian IT talent will grow in a big way in Canada where language won't be a problem for Indians. IT professionals who are skilled will gain over others in a significant way in the US itself.” Shivendra Singh, vice president and head of global trade development at <keyword id="6372077" type="CITY" weightage="20" keywordseo="Nasscom">Nasscom</keyword>, told ET, traditionally, the Indian IT export market had about 60% going to the US. "But with the US, Singapore and Australia affected by visa norms, new IT hubs like Japan, Australia, China, Israel, the Nordic countries, Middle East, Africa and Mexico will come up in the next few years,” he said.

These countries could become next IT hubs for Indian professionals. Here’s the list

The generative AI provides more <keyword id="20069513" type="General" weightage="20" keywordseo="opportunity" source="keywords">opportunity</keyword> to the Indian IT sector contrary to the believe of being a threat, highlighted a report by Nuvama Wealth Management. The report noted that although AI <keyword id="19901571" type="General" weightage="20" keywordseo="technology" source="keywords">technology</keyword> may initially disrupt the sector, especially in terms of business operations and billing models, the long-term benefits far outweigh the risks. "We, on the contrary, expect the Indian IT industry to come out stronger from the <keyword id="19906101" type="General" weightage="100" keywordseo="Gen-AI" source="keywords">Gen AI</keyword>-led disruption. We dig deep into various facets of Gen <keyword id="20037918" type="General" weightage="20" keywordseo="AI-adoption" source="keywords">AI adoption</keyword> for enterprises and find that Gen AI would create a mammoth incremental opportunity for <keyword id="20617562" type="General" weightage="20" keywordseo="Indian-IT-services" source="keywords">Indian IT services</keyword>," said the report. The report noted that as more enterprises adopt AI, the need for services such as upgradation of legacy code and data readiness for AI integration will increase, offering Indian IT firms new streams of revenue. The report mentioned one of the most significant opportunities lies in the modernization of <keyword id="21835113" type="General" weightage="20" keywordseo="legacy-systems" source="keywords">legacy systems</keyword>, particularly core banking systems (CBS). It stated that many <keyword id="19912054" type="General" weightage="20" keywordseo="financial-institutions" source="keywords">financial institutions</keyword> still use mainframe systems and outdated programming languages like COBOL. Gen AI enables automated code modernization, which will drive a major demand for Indian IT services to upgrade these systems, creating a long-term revenue stream. "Since most non-Indian (read European) do not have the scale to hire and deploy employees with the ability to code in COBOL (not to mention supply crunch)--they have ceded this opportunity to <keyword id="21817095" type="General" weightage="20" keywordseo="Indian-IT-Services-companies" source="keywords" meta.keywordsubtype="org" meta.entityname="Indian IT Services companies" meta.hostid="261" meta.entityid="Indian IT Services companies">Indian IT Services companies</keyword>" said the report. The report specifically highlighted the "upgradation of legacy code" as a key area of opportunity for IT companies as businesses prepare their systems for AI integration. Gen AI is expected to create new service lines for Indian IT companies, including AI-based <keyword id="19945906" type="General" weightage="20" keywordseo="customer-service" source="keywords">customer service</keyword>, fraud detection, predictive maintenance, and knowledge processing. These AI-driven solutions will allow IT firms to offer higher-value services to clients, boosting revenue and profit margins. "Indian IT companies have always repositioned themselves to continue to do what they do best--service customers. That has provided them with the longevity they have commanded for multiple decades now. We do not see that changing this time as well" the report added. Comparing Gen AI to "a hammer looking for a nail," the report suggested that the technology's applications are still being discovered, but its potential is undeniable. Looking ahead, the report forecasts a strong start to FY25 for Indian IT companies, with growth driven by an optimistic outlook for the Banking, Financial Services, and Insurance (BFSI) sector, increasing technology spending, and large deal ramp-ups.

Gen AI to unlock a "mammoth incremental opportunity" for Indian IT services: Report

A senior figure from the <keyword id="396996" type="UNKNOWN" weightage="100" keywordseo="Indian-IT-industry">Indian IT industry</keyword> has said that techies working in the industry have good work ethics, are well-paid, and can even find opportunities outside the company that they work for; which is why they don’t need to form employee unions. The noise about these unions being formed always arises whenever there is a bit of a downfall in the IT industry, but nothing concrete has ever been done in this regard, says <keyword id="138760" type="PERSON" weightage="100" keywordseo="V-Balakrishnan">V Balakrishnan</keyword>, ex-Chief Financial Officer of <keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword>. "Work ethic is very good and salaries are high. Even today the attrition rate in the IT industry is double digit. It (talk of employees' unions) always fizzles out after some point of time. It never sustained," he told PTI. "But I think even if there is a union, I don't think it will impact the industry much because IT industry is one of the best paymasters in the country and second, the people find opportunities outside," he added. He added that industries with bad work ethics and grungy treatment towards employees require employee unions. "IT industry is not bad, IT industry people are well taken care of, well-paid, and they find opportunities. Even one of the bad years, this year, where growth rate has come down, the attrition is still double digit." He even added that the reports about extensive job losses in the industry are exaggerated. "If you look at all the leading companies, none of them are talking about huge job losses; they are all talking about the regular performance-based attrition, that is normal in the industry. So, to some extent the scare of job losses is exaggerated," he said. (Image source Huffington Post India)

Techies don’t need to form unions, says V Balakrishnan

Automation and newer technologies have brought major changes to the Indian <keyword id="6374576" type="ORGANIZATION" weightage="100" keywordseo="IT-Industry">IT industry</keyword> and it is slowly adapting to these changes. Meanwhile, middle-level employees in the industry are facing an uncertain future, owing to possibilities of restructuring. 
 
There are nearly 1.4 million employees in this section of the <a href="http://www.businessinsider.in/Indias-IT-Industry-is-ending/articleshow/54865727.cms">Indian IT industry</a>, holding 8 to 12 years of experience and earning anywhere between Rs 1-1.5 lakh per month. 
 
Also read: <a href="http://www.businessinsider.com/india-is-on-the-verge-of-a-digital-revolution-2016-9?IR=T">India is on the verge of a digital revolution</a> 
 In India’s IT sector, one’s progress in career is measured not by the <keyword id="649252" type="UNKNOWN" weightage="100" keywordseo="new-technologies">new technologies</keyword> learned but by the number of people an employee managed. 
 
Also read: <a href="http://www.businessinsider.in/Indian-IT-sector-is-going-through-a-slow-phase-and-TCS-Infosys-among-others-may-post-worst-Q2-performance-results-in-10-years/articleshow/54776935.cms">Indian IT sector is slowing down</a> 
 
"The middle management are the weakest link in the chain," Milan Sheth, partner - advisory services &amp; technology sector leader at EY, told ET. "The leaders are meeting clients, so they know about the change in (their) thinking. The bottom most guys adopt easier and learn. It is therefore, this middle management that is <a href="http://www.businessinsider.in/worrisome-infosys-releases-around-2000-employees-every-quarter-thanks-to-automation/articleshow/56681003.cms">most difficult to change</a>," he added. 
 
The changes brought in by <a href="http://www.businessinsider.in/automation-is-going-to-eat-almost-50-of-your-jobs-by-2033/articleshow/56999710.cms">automation</a> and digital technologies have already started to overturn the normal way of doing business, stressing both the old structure and people associated with it, since machines are replacing people. 
 
Roles that were typically assigned to employees with over 10 years of experience are now being done by machines, be it assigning people to projects or helping project managers take trade decisions about project manpower and timelines. 
 
Also read: <a href="http://www.businessinsider.in/what-happens-when-robots-take-our-jobs/articleshow/57161905.cms">What happens when robots take our jobs?</a> 
 This has resulted in low pay hikes being projected to <keyword id="626794" type="UNKNOWN" weightage="100" keywordseo="mid-level-employees">mid-level employees</keyword>. 
 "People who are passing out as <keyword id="54038" type="ORGANIZATION" weightage="100" keywordseo="engineers">engineers</keyword> today are all digital natives. They all are massive users of technology. Therefore, both of those put together - digital natives, more closer understanding of our client's business since they are also a consumer - is helping them ramp up very quickly," said Rostow Ravanan, CEO at Mindtree. "We also see that their ability to deliver results is also very high," he said. 
 
The fact that middle level employees are the ones resisting changes the most, it remains to be seen how they cope up with these sudden and powerful changes. 
 
(<a href="http://static.atimes.com/uploads/2016/11/2016-11-28T002546Z_775406985_RC1B4F094B50_RTRMADP_3_USA-TRUMP-INDIA-TECH.jpg">Image source</a>)

Possible restructuring poses threats to mid-level employees in Indian IT sector

<a href="http://www.businessinsider.in/searchresult.cms?query=singapore&amp;sortorder=effectivedate">Singapore</a> has turned out to be one of the countries opposing foreign professionals working in its country. 
 
The number of <a href="http://www.businessinsider.in/searchresult.cms?query=Indian+IT+sector&amp;sortorder=effectivedate">IT professionals</a> working in Singapore has dropped after the government said it will conduct an "economic needs test" (ENT), which requires compliance with certain economic criteria. 
 
The visas for IT professionals to work in Singapore have dropped, leading the government to put on hold the review of the Comprehensive Economic Cooperation Agreement (CECA) citing violation of the trade pact. 
 
"They are doing it despite the CECA clearly stating that there will be no ENT or quotas on agreed services. This is a violation of the agreement," an Indian officer told TOI. 
 With protectionism stance growing in UK and the US, <keyword id="6357549" type="UNKNOWN" weightage="20" keywordseo="Indian-IT-companies">Indian IT companies</keyword> such as <a href="http://www.businessinsider.in/searchresult.cms?query=TCS&amp;sortorder=effectivedate">TCS</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=wipro&amp;sortorder=effectivedate">Wipro</a>, <a href="http://www.businessinsider.in/searchresult.cms?query=cognizant&amp;sortorder=effectivedate">Cognizant</a>, L&amp;T Infotech and HCL, are relocating some of their operations to other countries in the region. 
 
"This (visa problem) has been lingering for a while but since early-2016, visas are down to a trickle. All Indian companies have received communication on fair consideration, which basically means hiring local people," Nasscom president R Chandrashekhar told TOI. 
 
Professionals do face such hurdles, especially in the services trade as countries insist on fulfilling various conditions, including ensuring that a local professional is given the first chance if he or she possesses the same or similar talent. 
 
(Image: Thinkstock)

More trouble? Another country has blocked visas for Indian IT professionals

As if finding a job in India's $160-billion IT industry wasn’t hard enough, fresh engineering graduates would have to deal with another disappointment this year. If reports are to be believed, they would not get to see any hike in their starting salaries anytime in the near future. 
 
ET talked to human resources heads of top IT companies like TCS, Infosys and Wipro, as well as several IT recruiters and experts, and reported that these firms are unlikely to revise fresher-level wages amidst declining spending and struggles to protect their profit margins, and not to forget the rising inflation and cross-currency fluctuations. 
 
However, a huge demand-supply imbalance can’t be ignored when it comes to the country's largest software services firms taking the liberty of not offering any hikes to freshers, since the dearth of jobs has led to one job being available for every five fresh engineering graduate. 
 
Presently, India produces over 1 million engineering graduates every year, however, the number of jobs available in the IT industry is somewhere around 200,000-300,000, as per Nasscom data. 
 
"Ten years ago, the supply-demand situation was neck to neck -- the number of engineers graduating was roughly similar to the number of jobs in the IT industry. That has changed drastically -- as of now, supply is 5 times as much as demand. When you have five people competing for one position, you don't have any incentive to raise salaries," said Achyuta Ghosh, head of research at Nasscom. 
 
<a href="http://www.tappaproductions.com/wp-content/uploads/2016/03/empty-pockets.jpg">Image source</a>

You Searched For "indian IT" and got 12 results

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