40,000 mid-level employees may lose job in IT sector

In a bid to cut expensive resources and fight the mounting cost pressures over India's export industry, IT companies are planning to shed as many as 40,000 mid-level jobs by next year. Employees with 10-20 years of experience are regarded as mid-level employees and constitute around one-fifth of the workforce in the IT sector. As per a report, 7% of mid-level IT jobs could be axed in the next 12 months.