InvestorQ : Are Indian IT companies aggressive indulging in cost cutting?
Tisha Malhotra made post

Are Indian IT companies aggressive indulging in cost cutting?

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Aashna Tripathi answered.
2 months ago
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IT companies have been in the news for all the wrong reasons of late. A day after leading Indian IT companies cut or froze variable pay to employees, there are now steps to freeze or cut staff bonuses. As the US and European clients tighten budgets, it means thinner margins for the IT companies.

Discretionary spending is being cut, but even bonuses and variable pay is going away. The rising attrition had created a huge IT churn. To save costs, IT companies are cutting back on hiring trainees.

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