IT Crisis in India: 56,000 Layoffs and Counting

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For Indian techies, 2017 was the stuff of nightmares.

One of the top employment generators until a few years ago, India’s $160 billion IT industry laid off more than 56,000 employees this year. Some analysts believe this spree was worse than the one during the 2008 financial crisis. Meanwhile, hiring plummeted, with entry-level openings having more than halved in 2017, according to experts.

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