The reason stated is the cautious approach taken by the companies regarding the placements to decrease the increasing burden of maintenance expenditure and to increase the per employee income of the company. Indian IT segment is worth Seven Lakh Crores and is accomodating over 31 Lakh employees. In 2002-2014, the income of the IT companies improved by 18% and placements were up by 15%.
CRISIL is of the opinion that the economic slowdown across the World will force IT companies to decrease their maintenance costs to maintain their incomes and profits. As a result companies will slowly start phasing out the employees on benches.
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