Mass layoffs at Oracle have reignited concerns over a broader slowdown in India’s IT sector, with early signs of stress emerging in Bengaluru’s housing market, long driven by tech sector incomes…reports Asian Lite News
Layoffs at Oracle have intensified concerns across India’s technology hubs, with ripple effects now being felt in the housing market of Bengaluru.
The company is reported to have cut around 12,000 jobs in India as part of a wider global workforce reduction that could reach nearly 30,000 roles. Affected employees were reportedly informed of their termination with immediate effect through abrupt communications.
The job cuts come amid a sharp slowdown in India’s IT sector after years of rapid expansion. Industry growth, which averaged around 15 percent annually between 2005 and 2020, has now dropped to roughly 5 to 6 percent, with hiring momentum weakening after the pandemic.
Market experts suggest the slowdown may be structural. Saurabh Mukherjea said the sector’s long growth cycle is tapering off, with signs of deceleration emerging even before the rise of artificial intelligence.
AI adoption is now accelerating the shift. A report by NITI Aayog estimates that up to 20 percent of jobs in IT services and call centres could be affected by automation by 2031.
The impact is beginning to spill into real estate markets in major tech cities. Analysts warn that continued layoffs and slower hiring could weaken housing demand and put pressure on property inventories, particularly in IT driven urban centres.
According to NDTV, the developments have raised broader concerns about the outlook for India’s technology sector and its wider economic impact, especially in cities heavily reliant on IT led growth.
