Reports of job insecurity leading to high levels of anxiety and depression among information technology professionals in India are unfounded and exaggerated, as there are no large-scale layoffs, says an important figure in the IT industry.
Former Chief Financial Officer of Infosys, T V Mohandas Pai said such “exaggerated” reports are based on some events and there are attempts to exploit them.
“Just like previous reports of layoffs, it is (anxiety and depression reports) totally exaggerated, mongering fear etc,” said PTI.
“Yes, some people are anxious, relying on all the hype of the media, but there is no substance in anxiety, as there are no large-scale layoffs,” said Pai, who had also served as chief of human resources at The company based in Bengaluru.
Reports in a section of the press last week suggest that there has been a growing deterioration of mental well-being among professionals due to job insecurity and that they are suffering from problems such as anxiety and depression.
Pai ruled out as “total garbage and total lie” forecast that nearly six lakh jobs are expected to be reduced over the next three years.
“A quarter ended and we are in the second quarter, the two big companies (TCS and Infosys) have given their results, there are no layoffs in these companies,” he said, adding that the utilization rates of these companies
They were also at an all-time high.
“I think this (large-scale layoffs and anxiety and depression among IT employees) is all a lie spread by someone to get publicity and create anxiety and create business for them,” said Pai.
Manipal Global Education Services president and Aarin Capital noted that Infosys had a 21 percent attrition rate, suggesting that people continue to leave good companies for better wages and there is no shortage of jobs for skilled manpower.
“If someone has not worked, if someone is surplus (for a company), and you are asked to go, you can always go to the next store and get a job.” Eighty-five percent of the people who are asked to do 90-day jobs, “said Pai.
