India's IT industry has moved nearly two thirds of its 4.36 million workforces to work from home
By MYBRANDBOOK
The Indian IT Industry is the driving force behind the booming economic growth and employment in the country. The business slowdown initiated by the pandemic resulted in the IT sector in India witnessing massive layoffs, pay cuts and hiring freeze.
Most Indian IT services giants such as Infosys, Cognizant, Tata Consultancy Services and Wipro who happen to service the US retail sector, because of the pandemic, have been facing a major slump in business for quite some time. Now these US retail companies are planning a hefty cut in their IT services budget which, in turn, will definitely further hurt the Information Technology companies of India.
The next three to four months overall IT support budgets of US retailers could drop by 50%-70% as most of them are looking to shift to aggressive cost-cut programs. The adverse effect of the US retail Industry has started impacting the IT industry in India.
Hopefully, the world will recover from the shocks of massive loss of business, livelihood and life due to this pandemic and its aftermath. However, as the experts say the world will never be normal again and social distancing, touch less services, restricted travel ,work from home etc. will be the new normal.
BREAKING NEWS
TECHNO TRENDS
Dell spins off VMware stake to pay $9.7 Billion to reduce the
Dell Technologies Inc said on Wednesday it would spin off its 81 percent s...
IT services giant Ensono is acquired by KKR
Ensono, a leading hybrid IT services provider, it provides a comprehensive ...
Route Mobile is investigating claims on the data leak
Hackers has able to compromised servers of enterprise communications firm ...
Pine Labs acquires Fave to mark entry in consumer payments
Pine Labs has announced the acquisition of Fave for $45 million, as it loo...
E-Magazine
TECHNOTAINMENT
Stunning looks of Janhvi Kapoor in swimsuit makes-up
The stunning looks of actress Janhvi Kapoor in silver swimsuit looks abso
Catch all the action from the 66th Vimal Elaichi Filmfare Awar
Facebook today announced that it has partnered with Worldwide Media to pro
MOVERS & SHAKERS
LTI names Anil Rander as the new CFO
Larsen & Toubro Infotech has appointed Anil Rander as its Chief Financia
Pega India appoints Smriti Mathur as Senior Director and Head
the software company that crushes business complexity at the world's leadin
OPEN YOUR EYES
INTERVIEWS
Barracuda ensuring its customers’ security with easy to depl
Barracuda always protect customers’ data and applications from today’s
The advent of the data decade signals huge opportunities for D
2020 marks the beginning of what Dell Technologies calls the Next Data Deca
HOT PICK
TECNO unveils SPARK 7 6000mAh battery and 16MP AI Dual rear ca
TECNO has announced the launch of SPARK 7 - yet another future-ready devic
Xiaomi Sale today Get 48 MP Camera only in Rs 1 with 600mAh Ba
Xiaomi has organized the Mi Fan Festival 2021 offer on its website in Ind
MAKE IN INDIA BRANDS
TVS Electronics Limited
Luminous Power Technologies (P) Ltd.
Bharat Electronics Limited (BEL)
HFCL- Himachal Futuristic Communications Ltd
EMINENT CIO'S OF INDIA
ICONS OF INDIA
KARAN BAJWA
Former IBM India head Karan Bajwa has been appointed by Google as Mana...
ANANT MAHESHWARI
Anant is the President of Microsoft India. In this role, he leads the ...
DHEERAJ PANDEY
Dheeraj is the Founder, CEO & Chairman of Nutanix. He brings a wealth ...
CMO of the Year
Panel Discussion Session
Women leadership in Technology Sales
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
MOST TRUSTED BRANDS
