Volume IconTMS Ep399: Indian IT layoffs, confectionery, markets, bank stress test

Accenture on March 23 announced plans to trim its workforce by 19,000. According to reports, this may lead to around 7,000 job cuts in India. And, with the IT major cutting estimates for its ongoing financial year, analysts expect the fourth quarter numbers, associated guidance, and hiring by big Indian IT firms to be on pessimistic lines. Even the global banking crisis could have a domino effect on the IT sector. Against this backdrop, are the Accenture layoffs a sign of tough times for Indian IT?

Even amid the tech layoffs, we see another sector — the confectionery industry — which is on an expansion spree in India. The confectionary market has been lately attracting investments from major manufacturers.