Lockdown To Impact The IT Sector And Other Sectors In Telangana

The ongoing lockdown is likely to have a deep impact on the IT and SME sectors of the State. Within the IT and allied sectors, various industry experts suggest that we will see job losses ranging from 5 to 10% even as new recruitment is frozen completely for a few months.

This apart, several companies have offered to cut the variable pay by 20-30 percent. The campus recruits normally are asked to report to the office around May or June. But now they have to wait at least 3 months more as the companies have put the recruitments on a freeze because of the lockdown.

According to unconfirmed reports, companies like Cyient, Tech Mahindra, Intergraph, Accenture, GlobalIT, Hitachi, Infosys, and others have announced to cut the variable pay only from 20 to 30 percent.

Hyderabad is home to about 5.5 lakh IT professionals and the exports from the city have crossed Rs 1.1 lakh crores. The IT companies have been quick to adopt work from home to ensure business continuity.

The lockdown is bringing changes across sectors. While there will be some job losses, those who have learned to cope with ‘work from home’ schedules will stand a chance to be part of the gig economy, according to GR Reddy, founder, and Chief Executive Officer, Hysys Consulting.