IT companies employing 1.6 crore people will lay off 30 lakh employees by 2022, this is the reason

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According to Nasscom, the domestic IT sector employs about 16 million people, of which 9 million people are employed in low-skill services and BPO services.

$100 billion will be saved

With the pace of automation in various industries, especially the technology sector, domestic software companies employing 16 million people will lay off 30 lakh employees by 2022. This will save these companies a huge $100 billion, most of which they spend on annual salaries. This information has been given in a report. According to Nasscom, the domestic IT sector employs about 16 million people, of which 9 million people are employed in low-skill services and BPO services.

According to a report by Bank of America, 30 percent of these 9 million people or about 3 million people will lose their jobs, mainly due to Robotic Process Automation or RPA. RPA alone will replace around 7 lakh employees and the rest will be due to other technological up-gradation and skill enhancement of domestic IT companies. It also said that RPA will have a bad effect in America and there will be about one million jobs.

$100 billion will be saved

According to the report, based on an annual wage of $25,000 on employee salaries for resources in India and $50,000 for US resources, this would result in savings of about $100 billion on annual salaries and related expenses for corporates. It said, due to TCS, Wipro, Infosys, HCL, Tech Mahindra, Cognizant and other RPA skill enhancement, 30 in low-skill roles by 2022. Looks like a plan to reduce lakhs.

What is RPO?

RPA is not a robot but an application of software that does regular and hard work. This helps the employees to focus on more different tasks. It is not like a simple software application as it mimics the way employees work. It saves time, reduces cost.

However, the report also said that despite such widespread automation, major economies such as Germany (26%), China (7%), India (5%), South Korea, Brazil, Thailand, Malaysia and Russia are facing labor shortages. can face. In contrast, South Africa, Greece, Indonesia and the Philippines will have additional labor available for the next 15 years.

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Bhagyashree Soni
Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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