slow down in growth rate for IT and BPO says Nasscom

Nasscom says.......

There is a slow down in growth rate when compared to last year. However a sigh of relief is still felt as the annual growth rate which is aimed for year 2010 is steady and is sure to hit the target. The main reason cited for the slow down is the crisis that shook the US economy (sub prime mortgage crisis), steep oil prices, and drastic inflation across the global level.

Some steps that are expected to be taken by various IT companies are as follows. Cut down in production costs and infrastructure. Lessening the new recruiting process. Changes in salary packages provided. So IT guys watch out for the pits and loop holes…… in the upcoming period.