The personnel laid off by major IT companies and who chose to return to India may be absorbed by the Indian telecom eco-system to the extent of up to 30%. These represent employees with technical and support profiles, according to staffing consultants.
Numerous businesses, including Meta, Amazon, Twitter, Microsoft, and Stripe, among others, have reduced their workforce. In 2022, approximately 62,000 employees will have received the pink slip, in addition to the layoffs announced by Amazon in the previous week, according to projections by TeamLease.
Approximately 4000 of the total number of laid-off employees, according to staffing companies, maybe Indians living in India or Indians on work visas employed in the US.
While employees at tech companies are facing difficulties as a result of pink slips being given out, the Indian telecom eco-system has increased hiring during the past several quarters as a result of the deployment of 5G.
Due to the nation’s 5G rollout, empty posts for role-based specialists are being filled. The demand-supply mismatch in the telecom business should narrow as we go forward, according to Sachin Alug, chief executive of hiring firm NLB Companies.
This group includes both telecom service providers and non-telecom service providers who are looking for specialists with specialised knowledge. Operators want to roll out new services, options, and choices related to 5G, therefore, they need a large pool of IT businesses. OEMs are competing with each other for IT talent as they improve their products.
According to Alug, there may be an increase in the demand for telecom expertise in industries other than telecoms, such as healthcare, retail, manufacturing, and auto. As a result, these industries have also been hiring tech talent to improve the service capabilities surrounding 5G.
One would think that the telecom sector would absorb the majority of the laid-off workers, given the employment boom it is experiencing. However, according to analysts, there may only be a small skill overlap between the staff that is being laid off and the needs of the telecom companies.
According to Bhavna Udernani, managing director of Adhaan Solution, telecom companies may have limited desire to hire from the pool of labour force because the responsibilities and duties of a service-based company are fundamentally different from those of a product-based company, as are the skills needed by each.
For a product-based corporation like Meta, Twitter, or Amazon, you need to be able to handle complex system design difficulties and have strong analytical skills, backend programming, Data Structures & Algorithms, and project management skills.
On the other side, 5G demands radically distinct talent sets. Radio Frequency (RF) System designers, engineers, and community engineers are being sought after by 5G service providers because they possess the necessary “qualifications,” such as a profound understanding of community and radio architectures, knowledge of the ORAN, the Internet of Things (IoT), and AI/ML.
For instance, Amazon is laying off employees in its retail, home automation, and recruitment businesses. The marketing team and contract employees of Twitter are being let go. Marketing, sales, and non-technical responsibilities have remained the same, despite the fact that 5G enterprises are currently ramping up their hiring for development positions, Udernani continued.
When it comes to generational differences from their forebears, those hit by this wave of digital layoffs may be better equipped to handle the situation, according to Munira Loliwala, business head at employment firm TeamLease Digital. If they had moved outside (mainly the US) in order to pursue their careers, this creates opportunities for them to return home.
“Unlike previous generations, today’s workers don’t relocate to a new nation with the intention of settling there. They are always looking for better, more satisfying work. They also frequently upgrade their credentials in the case of tech profiles, making them employable even in India, she said.