IT firms set to slash 3 million jobs by 2022 due to automation, to save $100 billion in cost: Report

With automation taking place at a much faster pace across industries especially in the tech space, domestic software firms that employee over 16 million are set to slash headcounts by a massive 3 million by 2022, which will help them save a whopping USD 100 billion mostly in salaries annually, says a report.

The domestic IT sector employs around 16 million, of which around 9 million are employed in low-skilled services and BPO roles, according to Nasscom.