'Silent layoffs' in Indian IT sector may cause 50,000 job losses this year: Report
The Indian IT sector is facing 'silent layoffs', which may cause around 50,000 employees to lose their jobs by the end of this year, Economic Times reported, citing experts. HSF Research CEO Phil Fersht confirmed that widespread 'silent layoffs' are taking place in companies via performance-linked exits, reduced hiring and delayed promotions. This is reportedly mainly due to AI adoption.