Executive search firm Head Hunters India had earlier said that the job cuts in IT sector will be between 1.75 lakh and 2 lakh annually for next three years.
A day after IT Secretary Aruna Sundararajan said that the industry was growing at 8-9% and would continue to hire, IBM India has rubbished rumours of mass layoffs in the company.
Earlier, there were reports claiming that the IT company had decided to sack at least 5,000 employees in the coming months, but an IBM India spokesperson told NDTV that this is "factually incorrect information" and refused to comment on "rumours".
On Sunday, executive search firm Head Hunters India had said the job cuts in IT sector will be between 1.75 lakh and 2 lakh annually for next three years due to under-preparedness in adapting to newer technologies. "Contrary to media reports of 56,000 IT professionals to lose jobs this year, the actual job cuts will be between 1.75 lakh and 2 lakh per year in next three years, due to under- preparedness in adapting to newer technologies," Head Hunters India Founder-Chairman and MD K Lakshmikanth had told PTI, analysing a report submitted by McKinsey & Company at the Nasscom India Leadership Forum on February 17.
McKinsey & Company report had said nearly half of the workforce in the IT services firms will be "irrelevant" over the next 3-4 years.
Over the past few weeks, there have been reports of layoffs across the IT sector. Tech majors like Wipro, Infosys, Cognizant, and, more recently, Tech Mahindra have initiated annual performance reviews, a process that weeds out bottom performers or non performers. There are fears that thousands of employees in the sector could be shown the door over the next few weeks. The development comes at a time when Indian IT firms are facing challenges in the business environment and stricter work permit regime in countries like the US, Singapore, Australia and New Zealand.
However, on Tuesday, government assured that that there will be no large scale job losses in the technology sector which continues to demonstrate 8-9% growth.
(With agency inputs)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
 "IBM")
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}
)
){kind=small}
){kind=small}
)
)
)
)
)
){kind=small}
){kind=small}
){kind=small}
){kind=small}
){kind=small}