The ticket industry is changing, almost on a regular basis after the onset of the Covid pandemic. Every year, we are hearing multiple new advancements in the industry, which are making human workforce all the more prone to layoffs and substantial risks.
In this context, the latest developments are suggesting that leading tech giants like TCS, Intel and Microsoft are preparing for mass layoffs asking things are not looking very promising for the workforce.
Just today it was established that TCS which happens to be the biggest IT export company in India is all set to layoff as many as 12,000 employees. This comes shortly after Intel had also communicated that they are also laying around 24,000 people.
Microsoft had already communicated that they are principally considering laying off 10,000 workforce globally. Several other tech companies are going down this path as they’re on the mission to cut down on the work force.
An industry expert reacted on this matter as he commented, Intel to lay off 24000 employees. TCS to lay off 12000 employees. Microsoft to lay off 10000 employees. Infosys is not giving pay hikes. Start ups are not hiring anymore. 1 crore+ aspirants are running after government jobs
The youth of India is staring at an extremely grim situation in the coming days. The private sector slow down will push more youth towards government jobs, further increasing the competition for limited seats in government jobs.”
Due to the changing standards of the industry and also the revolution of the artificial intelligence industry are making human workforce prone to mentioned situations. While enhancing the skill set is one effective solution, looking at other employment opportunities are also becoming increasingly common these days.
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