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Showing posts from March 28, 2008

IT Slowdown in India Might Just Be a Faux Pas

IT Slowdown in India Might Just Be a Faux PasIt happened in 2001 and it's happening all over again. Among all the talk of a booming Indian economy and rising employee wages, the slowdown in the Indian IT industry has reared its ugly head for the second time in less than a decade.

Premier institutes in the country like the Indian Institute of Technology are already facing the music, with companies like International Business Machines Corporation (IBM), Computer Sciences Corporation (CSC), Hughes Software Systems (HSS), and Hindustan Computers Limited (HCL) deciding to cop out of placements this year. Even leading Indian IT service providers like Tata Consultancy Services (TCS), Wipro, and Infosys have decided to go slow on their hiring spree. One can only imagine the plight of thousands of IIT graduates passing out this year!

To make matters worse, TCS has shown the door to more than 500 employees with less than five years of experience, citing perform…