Bengaluru: Executive search firm Head Hunters India on Sunday said the job cuts in IT sector will be between 1.75 lakh and 2 lakh annually for next three years due to under-preparedness in adapting to newer technologies.
“Contrary to media reports of 56,000 IT professionals to lose jobs this year, the actual job cuts will be between 1.75 lakh and 2 lakh per year in next three years, due to under-preparedness in adapting to newer technologies,” Head Hunters India Founder-Chairman and MD K Lakshmikanth told Press Trust of India, analysing a report submitted by McKinsey & Company at the Nasscom India Leadership Forum on February 17.
McKinsey & Company report had said nearly half of the workforce in the IT services firms will be “irrelevant” over the next 3-4 years.
McKinsey India Managing Director Noshir Kaka had also said the bigger challenge ahead for the industry will be to retrain 50-60 per cent of the workforce as there will be a significant shift in technologies. The industry employs 3.9 million people and the majority of them have to be retrained.
“So, when we analyse these figures, it is clear that 30 to 40 per cent of the workforce cannot be retrained or re-skilled. So, assume that half of this workforce can continue to work on old skills, then balance will become redundant.
“So, the number of people who will become redundant in the next three years will be about five to six lakhs. This will workout to, on a average, between 1.75 lakh to 2 lakh per year for next three years,” Lakshmikanth explained.
However, he said job cuts will not take place in major cities like Mumbai or Bengaluru, but cities like Coimbatore or a few remote places, he said.
Lakshmikanth further said the IT services industry is passing through an uncertain time as the growth in digital technologies like cloud-based services is happening at a much faster pace and the companies are combining learning of some of the new technologies and reskilling.
“Because of the changing technology, the most affected will be the professionals aged 35 and above, for it would be very difficult for them to get jobs,” Lakhsmikanth said.
“It’s a very small area … God willing, this is the final phase,” General Rasoul said.
The elite Counter Terrorism Service (CTS) stormed the Ureibi and Rifaie districts at dawn on Sunday, according to a statement from the Joint Operations Command.
At the same time, the army’s ninth division and the Interior Ministry’s elite Emergency Response Division attacked the IS bastion of 17 Tammouz.
“Daesh [Islamic State] is drawing its last dying breath,” the commander of the ninth division, Lieutenant General Qasim Nazzal, told state television on Sunday.
The Iraqi military says the battle for Mosul has entered its final phase, but what comes next will be crucial to the international battle against the Islamic State group.
“Daesh fighters are broken and quickly retreating from fronts.”
Vastly outnumbered by the forces arrayed against them, the militants are fighting back with suicide car bombs and snipers embedded among hundreds of thousands of civilians they are effectively holding hostage.
Conditions in the shrinking area under militant control are increasingly desperate as civilians resort to eating weeds and many are killed under heavy bombardment.
The number of people fleeing Mosul has more than doubled to about 10,000 a day since Friday, according to Iraqi government figures.
Defence analyst and former general Jasim al-Bahadli said the strategy adopted by Iraqi commanders was to splinter the remaining militants into smaller groups and attack them on multiple fronts to disrupt their command and control.
“By taking back all the districts surrounding the Old City, the militants will have no chance to receive any back-up or reinforcements,” he said.