Tag Archives: jobless growth

‘Joblessness’ In The Post-Employment World – Urgent Need for Paradigm Change

Job seekers at a job-fair in Chinchwad, 2019, Image courtesy Reuters/ Danish Siddiqui

The ‘unemployment’ question, let us put it bluntly, is not just an innocent and neutral question today but a key arena of class war – the war of Capital on society at large. Capital has its plans but does “society” have one?

Enter the Post-Employment World

It was reported last week that top IT sector companies like TCS, Infosys, Wipro, HCL, Tech Mahindra and Cognizant are likely to slash 3 million jobs by next year. With large-scale resort to Artificial Intelligence (AI) based “robot process automation” (RPA), these companies, by shedding these jobs are expecting to “save a whopping USD 100 billion, mostly in salaries, annually” says the Indian Express report linked above. Citing NASSCOM (National Association of Software and Service Companies) the report tells us that the domestic IT sector employs around 16 million, of whom “around 9 million are employed in low-skill and BPO roles.”

Of these 9 million low-skilled services and BPO roles, 30 per cent or around 3 million will be lost by 2022, principally driven by the impact of robot process automation or RPA. Roughly 0.7 million roles are expected to be replaced by RPA alone and the rest due to other technological upgrades and upskilling by the domestic IT players, while it the RPA will have the worst impact in the US with a loss of almost 1 million jobs, according to a Bank of America report on Wednesday.”

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