India’s information technology services industry would see hiring freeze this year and senior level staff taking a 20-25 percent salary cut due to the adverse impact of the COVID-19 pandemic, says IT industry veteran TV Mohandas Pai.
Pai said he does not expect the demand for office space in the IT sector to shrink going forward because companies would now need to maintain social distancing in their cramped office space.
On apprehensions in some quarters about job losses and salary cuts, Pai said IT companies would not hire more and they will suspend recruitment, except honouring commitments already made.
“There will be salary cuts.
People getting Rs 75,000 to Rs one lakh and above per month will see salary cuts, may be 20-25 percent,” he added.

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