Are IT professionals looking towards startups?

Fingers are being pointed in all directions. If one

industry

expert says Donald Trump is to blame, another says PM Modi is equally responsible. Truth however, is that the dire situation faced by thousands of

IT

employees across the country today, is an amalgamation of several detrimental factors. “This is a result of several things – Brexit, Trump, excessive hiring and very bad forecasting on the part of tech giants,” feels Jyoti Pandhare, who has been in talent acquisition for the past 17 years. Shedding some light on the situation in Pune, she says, “At least 5,000 plus employees are being laid off across top companies like Cognizant, Wipro,

Tech Mahindra

, Infosys, etc. I’m receiving 100s of CVs from multiple cities on a daily basis. And many of these people have almost 25 years of experience.”
For a little insight into what these employees are going through right now, imagine this. You depend on your salary to pay rent, fees, housing loans and a whole list of other expenses varying from medicines to groceries. You lose your job today and no one else in your industry is willing to hire you, unless you are agree to a huge pay cut. Rakesh Pandey*, a city-based IT professional who was recently informed that he’d been given voluntary retirement. “I’ve been in this industry a long time. Luckily, I have experience in other fields and the means to pursue something else. Others are turning to smaller companies and new startups who don’t have the means to match their current salaries.”
On the subject of startups, city-based HR proponent and founder of SRK Consultings, Sachidanand Kulkarni feels that this situation is going to work in favour of country’s startup ecosystem. “Many of these laid off employees are going to join hands and create their own startups. And right now, the domestic market is opening up to technology. A good number of services startups will emerge out of this,” he says, quickly adding, “But those who are not able to cope and fight back, will go through trauma.” Amidst stories of many IT employees switching careers, working freelance and taking sabbaticals, Abhimanyu*, another city-based IT employee who has lost his job, says, “This is a very difficult time. I guess the most important thing for all of to do right now, is not lose focus.”

What this means for IT

students

Despite admitting that some colleges have reported a considerable dip in placements this year, Dr Sandeep Meshram, head of corporate relations at College of Engineering, Pune, is positive that freshers will not be affected by the current situation of the industry. “This has definitely caused fear among students. There may be several reasons behind these layoffs. But this is a cycle. It’s mostly the larger companies that are cutting down, so students may still find good opportunities in startups. Besides, today, the trend among students is to get together and create their own startup,” he shares.


* Names of IT

professionals

changed for privacy
Pic: Shashank Sane

Stay updated with the latest news on Times of India. Don't miss daily games like Crossword, Sudoku, and Mini Crossword.