LayoffBlog.com

The Union of Information Technology Enabled Services (UNITES) Professionals, India anticipates at least 50,000 job losses in the first half of the new year, owing to the global recession.

UNITES general secretary, Karthik Shekhar, a computer engineer, formerly with International Business Machines (IBM), says the prediction of another 50,000 job losses has been estimated from the uncertainty of U.S. president-elect Barack Obama’s new policy on outsourcing, the bail packages by the British government and financial institutions which may result in conditions being imposed on local jobs.

[I]ndustry’s economic links to the U.S. and Britain’s recessions have played havoc on the local scene, with at least 10,000 jobs in the industry being lost between September 2008 and December 2008. Others, mostly junior level executives, have taken salary cuts ranging from 25 percent to as high as 75 percent.

Source: Manufacturing Business Technology

This entry was posted on Sunday, January 11th, 2009 at 8:26 am and is filed under IT, IT consulting, India, outsourcing, worldwide. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.