EXCLUSIVE-Hit by slowing growth and automation, IT industry has started sacking freshers | In the News

If you are a young software professional still flush with the excitement of being hired from campus a year or so ago and cherry-picked for training programmes, take a deep breath before you read this.

Anecdotal evidence shared with Moneycontrol suggests that companies are sacking youngsters within a year of having hired them as they get increasingly desperate to cut costs in the face of slowing growth and automation.

The IT industry is coming to grips with a market shift from an arbitrage-first model to a digital-first model, said Peter Bendor-Samuel, CEO of consultancy Everest Group.