IT companies vacating ata

[Mr Mirchi]

IT Giants have started to vacate Rented Buildings at all major IT Parks.. They have planned to open "Supervising Hubs" (controlling Offices) in small Buildings.. 75 to 90% Staff are going to work from own native areas.

Next major change is being made silently by NASSCOM (with +2800 IT and related Company members in india). They have approached Central/State Govts to,

 i) Amend or Abolish major (75%) portion of Labour Laws to suit IT Sector "work from Home." Central Govt has *ostensibly given consent* in the last week of May 2020 itself and advised NASSCOM to give Blue Print of Amendment in Labour Laws for suitable changes.

ii) To Amend Income tax Act to include expenses by Employer/Employee incurred at Home.. Amendment to cover Insurance for working from Home & done other amendments as well. 

So it is a matter of time before Acts/Laws are crystallized. "Work from Home" has come to stay & no more necessity for IT people *to stay at Tier 1,2 cities*.

Also the hiring has started by Major IT Companies but offers are being rolled out with pre- conditions and lesser pay compared to before.. *So this year's appraisal may see 0 hike, 0 variable and Layoff of higher paid Professionals.*

How will it impact Salaried IT Professionals.?
Let's divide them in 2 Categories:

Category-1:
Professionals with own Home or Home loan in Major Cities like Mumbai, Pune, Delhi, Bangalore..

Category-2:
Bachelors with few years of experience who lived in rented places..

Category 2 will relocate happily to their Hometown and able to save more.. Even Companies will give less pay but still they will be able to create a balance between Earnings and Savings & quality of life.

Category-1 will face double impact of inflation in Cities as already can be seen with jacked up prices of Vegetables, and FMCG, Lower Property rentals (almost halved) and a small negligible reduction in existing Home loan rates of around 2%..
The Properties may come under duress due to Job loss or non availability of Rents.. Forget buying new House from builder, as Market is already flooded with resale and distress sales.

The best example one can see is that monster.com has introduced a category of "Covid impacted" profiles and there are already 18 Lakhs Covid profile resumes in their portal.. So it means 18 Lakh Professionals already lost their Job / fearing loss of job and selected "Covid impacted" option..

What can one do to safeguard their future.? 
1. Try to keep your unnecessary Expenses under control..
2. Avoid Loans.. 
3. Save as much as you can by being a smarter  Tax payer. It's not a mere desire to save but need of the hour. It is to survive recession.. Yes you heard it right.. recession for next 3-4 years is distinctly visible.

*Real Estate viz. Housing and Office space sector is*, (hopefully NOT)  
         *RIP..**...*.
but, sure, it's clearly problematic.

[WigsandThighs]

Ok 

[AndhraneedSCS]

IT companies andaru work from home ante ayye pane antava?

[Assam_Bhayya]

unlockdown 4.0 lo METROs kuda open chesthunnaru akkada!!!!!!!!!!!!!

If any state govts have any objections or still afraid, they can keep all shut down for some more time, before they come out of karrona trans, realize and get back to normalcy.

 

[Ryzen_renoir]

22 minutes ago, AndhraneedSCS said:

IT companies andaru work from home ante ayye pane antava?

 TCS even said 75% target WFH by 2025 . 

IT shares kooda increased a lot recently anticipating larger margins and increased productivity .

I don't think real estate will be greatly affected , they would still need office space for unforseen events , training newbies . But costly areas antha vacate chestaru and move outskirts

[Mr Mirchi]

45 minutes ago, AndhraneedSCS said:

IT companies andaru work from home ante ayye pane antava?

Andharu oke project oke client ki cheyaru ga

[nokia123]

Once corona thaggaka office ki rammantaru..antha back to business aythadhi..just chill

[Ryzen_renoir]

6 minutes ago, nokia123 said:

Once corona thaggaka office ki rammantaru..antha back to business aythadhi..just chill

No , all the witch heads said they will aim to hit 75% work from home by 2025 . 

They see it as a way to increase profit margins , shares baga pencharu  in anticipation .

Intha mature industry lo this is the only way to increase margins without affecting clients or employees 

[TechAdvice]

Most of the companies prefer to be at work vs wfh! I would say 90%.. 

[Kool_SRG]

55 minutes ago, Assam_Bhayya said:

unlockdown 4.0 lo METROs kuda open chesthunnaru akkada!!!!!!!!!!!!!

If any state govts have any objections or still afraid, they can keep all shut down for some more time, before they come out of karrona trans, realize and get back to normalcy.

 

Its a request but highly doubtful of happening...

[JustChill_Mama]

29 minutes ago, nokia123 said:

Once corona thaggaka office ki rammantaru..antha back to business aythadhi..just chill

December dhaka wfh annaru kadha India lo 

[Jambhalheart]

covid ayithey India lo next 2 to 3 years varaku vutundhi mana vallu follow ayye social distancing ni batti chusthey

so IT hub cities like hyd, bangalore lo already high rent prime areas nunchi chala mandhi vacate chesaaru so either rents might come down or real estate prices might crash in prime areas if this trend continues for next 2 years

[ennnna chata]

This gave it companies opportunity to test there productivity in this mode , most likely they may adapt this model for 25-50 %staff and try for next year 

[Kootami]

47 minutes ago, nokia123 said:

Once corona thaggaka office ki rammantaru..antha back to business aythadhi..just chill

but more than employees companies found this option more cost effective vayya.. a small company in one floor will around 3-5 lakhs as rent not inlcuding power etc etc . they save a huge amount , so corona tarvatha kuda wfh productivity baguntey adee continue avthadi

[Kool_SRG]

13 minutes ago, Kootami said:

but more than employees companies found this option more cost effective vayya.. a small company in one floor will around 3-5 lakhs as rent not inlcuding power etc etc . they save a huge amount , so corona tarvatha kuda wfh productivity baguntey adee continue avthadi

AC usage taggudhi so lots of power saving for offices which itself will account to around 50-60% of power bill...

Office lo lekunte anavasaram print outs taggutaayi, paper saving etc...