What The Layoffs By Cognizant & Infosys Mean For India’s Economy

We have seen quite a few cases of layoffs recently in India, including many companies from the IT sector. The list contains Cognizant, Infosys, Deutsche Bank, Capgemini and UiPath, among others, and highlights the fact that economic recession may be upon us soon. A ripple effect starting with a slowdown in the economy post the NBFC crisis, leading to a terrible year for the automotive industry has now reached the IT/ITES which too is showing signs of slowing growth. There is also a highly pronounced cautionary approach by companies in terms of hiring and retaining talent.  As the technology segment of the Indian economy has a bigger dependence on global clients, IT-based outsourcing is the place most of the income lump originates from. On the off chance that the downturn hits the world