Indian IT services may see over 1 lakh layoffs by Sept

According to a abstract from the rediff.com:

The Indian IT services sector may see up to five per cent layoffs - amounting to more than one lakh job cuts - over the next six months as companies focus more on cost-cutting due to persisting weakness in global demand.

We all know that the market condition is not, already infosys had layed off over 4000, satyam crisis is not so long... DO you guyz think that worst is still to hit the indian economy specially IT.

Reference:- <a href="https://business.rediff.com/report/2009/apr/27/bcrisis-it-services-may-see-over-1-lakh-layoffs.htm" target="_blank" rel="nofollow noopener noreferrer">IT services may see over 1 lakh layoffs by Sept - Rediff.com Business</a>

-CB😒