IT sector job losses and rising urban labour woes

A number of recent media reports suggest layoffs are now common in India these days. The largest layoff news perhaps was that of Cognizant's decision to sack 6,000-13,000 employees. Since this news hit the headlines in March this year, a number of subsequent reports have suggested that Cognizant's is not an isolated case. There was news of Infosys letting a few hundred people go. According to one report, seven of the biggest IT firms are in the process of laying off more than 56,000 engineers.

According to a PTI story in Economic Times on May 14, a McKinsey & Company