IT jobs to go down by 50%

A popular survey by CRISIL has revealed a shocking news to IT job aspirants and unemployed youth of the nation. The study has predicted the new IT placements to go down by 50% by 2017-2018. The same study has predicted the annual income of the IT companies to go up by 13% but the companies will not venture to go easy on new placements.

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.