Covid-19 impact: 10,000 IT professionals may have lost jobs in Q1

Top 10 IT firms of India reduced total headcount by around one percentage point in the last quarter, says industry resource.

Indian IT services firms are learnt to have implemented rigorous employee performance evaluation metrics as most of them are resorting to staff retrenchment to withstand the difficult business environment in the wake of the Covid-19 pandemic.

According to industry insiders, at least 10,000 software professionals in the country might have already lost their jobs in the April-June quarter, while more are expected to lose their jobs in the coming quarters. The April-June quarter is traditionally the appraisal period at IT firms when they conduct performance-based evaluations. Besides, rising pool of reserved employees — called as bench in the industry parlance