Reality of layoffs is drowning the Indian IT industry in anxiety and depression
A Bengaluru-based online counselling portal's data on recent layoffs and the impact it is having on the industries speaks volumes about the alarming scenario. The data reveals how the layoffs in the Indian IT sector has gone from bad to worse whether or not the government is willing to acknowledge it.
According to data collected during a three-day free career counselling session by yourdost.com, 62 percent calls were on layoffs. Out of those who sought help over layoffs, 68 percent had been fired or forced to resign from their jobs while 32 percent were apprehensive about the firing process in their companies.
Incidentally, out of the 300 calls and 800 chats that were recorded over the session, 57 percent callers were between the age group of 24 and 35 years. 66 percent of the callers were male while 43 percent callers were from the IT sector. The online counselling website even claimed that 1/3rd of the unemployed professionals who called them could not find a job in the last six months. Worse, some of them had not revealed that they had been fired from their job to friends and families.
"Most people are worried about their social status. Because they define themselves via external parameters, they don't know what to do anymore. They become diffident and lose self-respect, they begin to avoid social situations and become increasingly isolated," Aditya Sisodia, a counsellor with yourdost.com.
Industry insiders predict nearly six lakh job cuts in the next three years and the situation is only expected to worsen. What came as alarming was the fact that 2/3rd of professional who sought help showed symptoms of anxiety and depression, according to the data.