Gone are the days when USA was considered the land of dollar dreams. Today, it is all about hanging onto survival and clinging on to whatever is offered. Sources say that the situation of software engineers based in USA has become shaky and they are now beginning to feel the heat.
The unwanted recession has hit the American economy and this is now spreading large scale fear in IT markets of India as well. Already, reports are arriving that layoffs have started in few IT companies and non performers are being removed as part of cost cutting measures.
However, the experts say “More than reality it is the fear factor that is driving the companies to take this step. Agreed there is uncertainty in the market but these layoffs are more like precautionary measures. Unless situation revives in US, not much can be done here. We are also expecting an influx of IT professionals based in US packing their bags and returning to India.”
The unwanted recession has hit the American economy and this is now spreading large scale fear in IT markets of India as well. Already, reports are arriving that layoffs have started in few IT companies and non performers are being removed as part of cost cutting measures.
However, the experts say “More than reality it is the fear factor that is driving the companies to take this step. Agreed there is uncertainty in the market but these layoffs are more like precautionary measures. Unless situation revives in US, not much can be done here. We are also expecting an influx of IT professionals based in US packing their bags and returning to India.”
