15,000 pink slips in the tech corridor and still counting

15,000 pink slips in the tech corridor and still counting

As per the industry experts, nearly 15000 IT professionals had lost their jobs in Bengaluru in last year. Now big companies like IBM, Dell, Cisco to HP, almost all the big companies have cut jobs.
Already reeling under layoffs by software giants TCS, Cisco and Luxembourg-based mortgage and financial services Software Company, Altisource, has issued pink slips to over 300 techies. Companies consider that cutting jobs is a part of market expansion and growth strategy. Regional head of NAASCOM, Bengaluru has revealed that Right now, Bangalore needs 46,000 skilled and job-ready people to work in the industry. The reason for the layoffs in individual companies might be because of completion of a project or internal reshuffling. The industry is doing well and there are no signs of a slowdown,”

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