IT may lose its luster says Infosys chief

IT may lose its luster, says Infosys chief

Says no employee will be retrenched

Friday, October 31, 2008

BANGALORE, INDIA: In the backdrop of the global economic meltdown, fresh graduates might find it difficult to get rewarding jobs for the next two years, says Kris Gopalakrishnan, CEO of Infosys.

According to him, the young generation would not find the information technology sector very attractive in the next two years, and asked the fresh graduates to pursue studies.

“Fresh graduates will be affected in the next two years. They may not find the sector very attractive,” he stated while participating in a discussion organized by the Karnataka Government on the impact of global economic meltdown on Karnataka, at the Vidhana Soudha on Thursday.

The Infosys CEO, however, said that no employee would be retrenched. There was still scope for expansion in the IT sector in Karnataka, provided the government improved the investment climate in the State.

Meanwhile, Karnataka IT Principal Secretary Ashok Kumar Manoli said that Tata Consultancy Service also has promised not to retrench any of its employees in the wake of the financial crisis.

He said the impact of the global meltdown on the IT sector in the state is not alarming. According to the data available with the Software Technology Parks of India (STPI), Karnataka has made an IT export for Rs. 15,000 crore during the first half of 2008.

However, he agreed that the slowdown will have certain impact on the IT/BPO sectors and some cost-cutting measures would be needed.

He said the IT conclave, BangaloreIT.biz, which begins on November 6, will discuss the strength and weakness of the industry and ways to redesign its working.

©CyberMedia News

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mahendra said on 11/1/2008 5:08:41 PM:
Since IT sector is supporting to the product(manufacturing etc.)sector. Its very important to the freshers as well as professionals to keep in touch with product sector so that their feet will remain in touch of ground.Ultimatly while in contegency cost cutting starts from supporting activities that may happen with BPO and software too.

to mahendra