Tech sector hiring may nearly half by FY18: Crisil

Tech sector hiring may nearly half by FY18 Crisil

Ratings agency Crisil today said the information technology sector is likely to lose its position as a mass employment engine and new recruitments will nearly half over the next three years, even though companies will continue to report good revenue growth. Despite healthy revenue growth of 13% for IT services foreseen in the medium-term, aided by recovery in discretionary spending by clients, recruitments will shrink by around half by fiscal 2018 with vendors focusing on cost optimization by maximizing revenue-per-employee says CRISL report. If it is true it will be a bad news for tech students as IT companies trying to reduce their costs to get more profits.

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