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Massive Job Cuts - An alarming sign for Techies!
By: Tupaki Desk | 18 Aug 2016 7:24 AM GMT
Several IT Giants across the World have announced job cuts in 2016 already citing reasons like drop in revenue, change in the policies and etc., Is this a dangerous sign for the IT Professionals?
Cisco Systems decided to cut 5,500 out of 73,000 jobs Worldwide after its revenue fell by 2 percent. This is also part of a major shift from Hardware to Software & Cloud Technology. However, The Tech Firm refrained from disclosing the country in which most of the job cuts will happen. This US-based company wishes to use the revenue collected through cost cutting measures to invest aggressively in future projects.
In April this year, Intel announced 12,000 jobs cut. Cisco stands only next to Intel in the count of lay offs.
Even break in the association of Infosys and RBS resulted in loss of employment for 3,000 people. Some of the leading IT Companies too announced job cuts to deal with cost cutting and changing businesses.
Cisco Systems decided to cut 5,500 out of 73,000 jobs Worldwide after its revenue fell by 2 percent. This is also part of a major shift from Hardware to Software & Cloud Technology. However, The Tech Firm refrained from disclosing the country in which most of the job cuts will happen. This US-based company wishes to use the revenue collected through cost cutting measures to invest aggressively in future projects.
In April this year, Intel announced 12,000 jobs cut. Cisco stands only next to Intel in the count of lay offs.
Even break in the association of Infosys and RBS resulted in loss of employment for 3,000 people. Some of the leading IT Companies too announced job cuts to deal with cost cutting and changing businesses.
