Over the last few days there have been many anxious faces in the IT Tinsel town and the reason is well known:
" IBM asks 700 employees to leave based on results of aptitude tests"
"TCS announces no variable pay and reduced hike in upcoming quarters"
"TCS asks 500 employees to move out based on poor performance"
Yeah, all these news have made any amongst the Indian IT industry have sleepless nights. This surely seems to be similar to 2000-01 bubble burst. And its not just experienced people who seems worried, over the last decade IT has been the biggest recruiter of fresh engineers and with training costs taking its toll - freshers recruitement has also gone low.
With US dollar weakning continously and showing no signs of strengthning and subprime crisis further adding to woes; this doesnt seem to be the right time to be in this sector.
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