Recession Impact On Analytics Retrenchment And Open Jobs

The ongoing recession, due to the lockdown and COVID – 19 pandemic, is significantly impacting jobs in India across the organised and unorganised space.
Across the organised space, the impact of the recession on start-ups and the Travel & Hospitality domain has been unfortunately severe – with many companies across these segments retrenching up to 20% of their staff across functions.
While jobs in the IT function are relatively less impacted during recessions, the current recession is causing layoffs across the broad Technology segment, including the Analytics and Data Science space.

This report has been divided into two sections. The first section covers the retrenchment of analytics professionals due to the recession. The second section covers the impact of the recession on the open job numbers.

Summary

  • IT firms based in India, in times of downturns, provide cost benefits, along with significant value and efficiencies, to global enterprises, and are able to soften the impact of downturns on their staff and employees.
  • FMCG firms have seen and will see a moderate contraction in revenues, and are thus not expected to retrench employees in large numbers.
  • In fact, Telecom companies have increased their analytics workforce as workfrom-home has become the norm, increasing broadband, video-conference, and mobile telephony usage.
  • The BFSI sector, especially the Domestic Banks, has received significant support from the Government and the Reserve Bank of India (RBI) to assist borrowers, Small and Medium Enterprises (SMEs), and large enterprises. Keeping this mind, the current recession has had a moderate negative effect on the analytics units across IT firms and consumer-focused firms.
  • On the other hand, the retrenchments have been close to double-digits across the analytics units of Consulting firms and in the high single digits across Captive Banking, Industrials, and Media firms.
  • In terms of open job numbers advertised, the trend is similar to the retrenchment trends. As expected, the Travel & Hospitality analytics units have been the worst affected, followed by analytic functions across In-store Retail, Automobiles, and Energy & Utilities.

Table of Content

  • OVERVIEW
  • RESEARCH METHODOLOGIES INVOLVED
  • SECTION I RETRENCHMENT ACROSS ANALYTICS AND DATA SCIENCE FUNCTIONS
    • Impact by Sector or Industry
    • Impact by Sector or Industry
    • Impact by City
    • Database Tools
    • Retrenchments by Experience Level
  • SECTION II – EFFECT OF RECESSION ON OPEN JOBS
    • Open Jobs by City
    • Open Jobs by Sector (excluding IT)
    • Open Jobs by Experience
  • CONCLUSION

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