Indian IT sector may benefit from layoffs happening in the US technology firms and can bring a lot of work to India, a US-based firm GlobalLogic CEO has said.
“If Google, Twitter or Facebook or any of these customers actually lay off people in the US, it’s not that they don’t need to build products.They still need to continue to do their work and I believe that a lot of that work will come to India, because they will still need the talent to keep doing the work, although they will look for cost efficiencies,” GlobalLogic President and CEO Nitesh Banga said.
Speaking to media, Banga said that they are looking to acquire talents in India and plans to grow its employee base by 25-35 per cent every year.”We hire close to 1,000 people a month.Out of that, 50 per cent is in India.
So, we are hiring close to 500 people at any given point in time in India.Every year, the number will continue to go up by 25-35 per cent,” Banga said.
” So, the equation is no longer about cost arbitrage, but it is about value arbitrage and skill and talent capabilities.There is a temporary slowdown in the war for talent.
We do see this war for talent continuing to scale up for India,” he said.
Banga added, that India is not going to see much of a slowdown even as there are a lot of layoffs happening in the US.
