IT companies look to cut jobs at mid, senior levels in coming quarters

As hiring in US rises, with resulting cost pressure, these staffers in India are at risk; advent of digital tech another reason

Information technology (IT) services companies, with large Indian presence, are looking at reducing their employee count by 5 to 8 per cent in the coming quarters, mostly at the middle to senior levels.

Sector experts say rising pressure on margins owing to price discounts on the core business, increased hiring in the US and emergence of new technology areas are key reasons for such cost cutting.

“It (reduction of personnel) is happening across all tier-I IT services companies. Employees in the senior project manager or delivery manager kind of roles, where the annual salary range is Rs 20-40 lakh, are