English हिन्दी
Connect with us

India News

Oracle layoffs trigger fresh fears for Bengaluru housing market as IT slowdown deepens

Oracle layoffs and a broader IT slowdown are beginning to impact housing demand in Bengaluru as tech professionals delay big home purchases amid job uncertainty.

Published

2 months ago

on

Oracle layoff

Layoffs at Oracle have intensified concerns across India’s major technology hubs, with early signs now emerging in the housing markets of cities like Bengaluru, Hyderabad, Pune and NCR, where IT incomes have historically driven residential demand.

The job cuts, which reportedly affected around 12,000 employees in Oracle India, are part of a broader global workforce reduction plan that could total nearly 30,000 roles. The company cited organisational changes and informed affected employees that their roles had been eliminated with immediate effect, with termination emails reportedly sent early Tuesday morning US time.

The development comes at a time when growth in India’s IT services sector is already slowing after two decades of rapid expansion. Market experts say the combination of layoffs, slower hiring and automation is beginning to change financial behaviour among tech professionals, especially when it comes to large housing purchases.

Saurabh Mukherjea of Marcellus Investment Managers said in a podcast that the IT sector is entering a structural slowdown. Between 2005 and 2020, IT services firms grew revenues and headcount at roughly 15 percent annually, but growth has now slowed to around 5 to 6 percent, with hiring tapering off after the Covid period. He noted that the slowdown began even before artificial intelligence became a major factor.

Artificial intelligence is now accelerating the shift. A 2025 report by NITI Aayog estimated that up to 20 percent of jobs in IT services and call centres could be impacted by automation by 2031, adding further uncertainty to hiring trends.

Bengaluru shows early impact

Real estate experts say the first visible spillover is appearing in Bengaluru’s property market. Some technology professionals are reportedly postponing high-value home purchases, while others are choosing lower-cost housing to reduce financial risk.

This shift follows a sharp rise in housing prices between 2021 and 2023 and indicates a change in buyer behaviour rather than a sudden collapse in demand. However, analysts warn that prolonged hiring slowdowns or continued layoffs could weaken housing absorption and increase pressure on existing inventory.

Real estate consultant Vishal Bhargava noted that layoffs tend to affect housing demand in two ways — employees who lose jobs struggle with loan repayments, while those still employed often delay purchases due to fear of job loss.

Financial markets are already reflecting the transition. The Nifty IT index has fallen around 25 percent so far in 2026 as investors adjust growth expectations for the sector.

According to a note by ICICI Direct, the sector may be entering a deflationary phase where automation reduces human effort and compresses revenues linked to billable hours. The note estimates annual revenue deflation of 2 to 3 percent in the near term, with nearly 30 percent of the industry exposed. In a downside scenario, as much as 80 billion dollars of Indian IT revenue could be at risk.

Long-term outlook tied to AI transition

Despite the near-term concerns, the long-term outlook depends on how quickly companies adapt to AI-led services. Estimates suggest that AI-driven services could expand the total addressable market by 300 to 400 billion dollars by 2030.

India’s IT exports contribute roughly 300 billion dollars in foreign exchange, making the sector critical to the country’s economic stability. Any structural shift in the industry is therefore likely to have wider economic implications beyond the technology sector.

A research paper titled The 2028 Global Intelligence Crisis by Citrini Research outlined a hypothetical worst-case scenario in which rapid AI automation could lead to large-scale job losses and financial instability by 2028. The report argued that Indian IT firms could be vulnerable if global clients increasingly shift to AI coding tools available at significantly lower cost.

However, the authors described the scenario as a stress test rather than a base-case forecast. Even so, the report has intensified debate over how quickly IT firms can transition to higher-value AI services and whether the broader economy can absorb the shock if the transition is slow.

For now, early indicators — layoffs, slower hiring and cautious home buying — suggest that the impact of the IT sector’s slowdown is beginning to move beyond the technology industry into the broader economy.

Related Topics:
Continue Reading

Education

CBSE makes three languages mandatory for Classes 9 and 10 from July 1

CBSE has announced that students in Classes 9 and 10 must study three languages from July 1, 2026, though no board examination will be conducted for the third language during the initial rollout.

Published

3 hours ago

on

May 16, 2026

By

CBSE

The Central Board of Secondary Education has announced that students in Classes 9 and 10 will be required to study three languages from July 1, 2026, as part of the implementation of the National Education Policy (NEP) 2020 and the National Curriculum Framework for School Education (NCFSE) 2023.

Under the revised structure, students will study languages under the R1, R2 and R3 format. The board has clarified that two of the three languages must be Indian languages.

However, CBSE has stated that there will be no Class 10 board examination for the third language, also referred to as R3, during the initial phase of implementation.

What the new language structure means

According to the updated curriculum framework, students will choose three different languages. The same language cannot be selected at more than one level simultaneously.

The board has explained the structure as:

  • R1: Any language offered by CBSE
  • R2: A language different from R1
  • R3: A third language different from both R1 and R2

The move is aimed at promoting multilingual education in line with NEP 2020 recommendations.

No board exam for third language initially

CBSE has clarified that although the third language will become mandatory for Classes 9 and 10, students will not immediately face a board examination for R3 in Class 10.

Reports said the full implementation of the three-language board examination structure is expected to happen gradually over the coming years.

Schools asked to prepare for rollout

The board has already directed schools to finalise language options and upload details on the OASIS portal to ensure smooth implementation of the revised policy.

CBSE has also indicated that temporary textbook arrangements and interim measures for language teacher shortages may be introduced during the transition phase.

Continue Reading

India News

Maharashtra asks Google, Apple to remove Uber, Ola, Rapido apps over bike taxi operations

Maharashtra has asked Google and Apple to remove Uber, Ola and Rapido apps over alleged illegal bike taxi operations and safety concerns linked to passenger transport services.

Published

4 hours ago

on

May 16, 2026

By

Rapido

Maharashtra has intensified its action against app-based bike taxi services, with the state government asking Google and Apple to remove apps such as Uber, Ola and Rapido from their app stores over alleged illegal bike taxi operations.

According to notices issued by Maharashtra Cyber, the companies are allegedly operating passenger transport services through bike taxis without obtaining the required permissions and approvals under transport regulations and the Motor Vehicles Act.

The cyber department said unauthorised bike taxi operations pose serious safety concerns for passengers. Authorities highlighted issues related to driver verification, insurance coverage, women’s safety measures and emergency response systems. Officials also claimed that rash and negligent driving linked to some bike taxi operations has increased public safety risks.

The state government also referred to a recent incident involving the alleged death of a woman linked to a bike taxi service, stating that a criminal case has been registered and that similar complaints have surfaced in different parts of Maharashtra.

In its communication to Google and Apple, Maharashtra Cyber reportedly asked the companies to remove and disable access to such applications from the Apple App Store and Google Play Store. The notices warned that failure to comply with directives issued by Indian law enforcement agencies could invite legal consequences under provisions of the Information Technology Act.

Maharashtra Transport Minister Pratap Sarnaik has also directed the cyber department to register FIRs against the ride-hailing platforms over their bike taxi operations in the state.

The action comes amid growing debate over the legality of bike taxi services in several Indian states. While some states permit regulated bike taxi operations, others have imposed restrictions or initiated enforcement action against aggregators operating without formal approval.

The Maharashtra government clarified that the current crackdown is specifically against alleged illegal bike taxi services and does not affect other cab and auto services provided by these platforms.

Continue Reading

India News

Those who want to leave can go: Mamata Banerjee after Trinamool’s poll setback

Mamata Banerjee has told Trinamool Congress leaders that those who wish to leave the party are free to do so after its electoral defeat, as she pushes for organisational rebuilding.

Published

13 hours ago

on

May 16, 2026

By

mamta banerjee

West Bengal Chief Minister Mamata Banerjee has sent a strong message to party members amid internal unrest following the Trinamool Congress’ electoral defeat in the 2026 Assembly elections, saying those who wish to leave the party are free to do so.

The remarks come as the TMC grapples with its worst electoral performance in years and growing dissatisfaction within its ranks.

‘Will not stop anyone from leaving’

At a recent internal review meeting with party candidates, Banerjee reportedly told leaders that she would not attempt to hold back anyone planning to exit the party. She emphasised that the organisation would move forward with those who remain committed.

According to party sources, she said she would focus on rebuilding the organisation from the ground up, including restoring party offices and strengthening grassroots-level structures.

Push for rebuilding the organisation

Banerjee also called for detailed, area-wise reports from party workers and directed them to hold meetings at block and town levels to assess the reasons behind the defeat.

She further indicated that the party would undergo internal restructuring, with efforts aimed at reviving organisational strength at the local level.

Fact-finding teams and internal review

As part of the post-poll exercise, the Trinamool Congress has also set up multiple fact-finding teams to examine alleged irregularities in key districts.

These developments highlight growing internal churn within the party as it attempts to recover from its electoral setback and rebuild its support base.

Continue Reading

Trending

© Copyright 2022 APNLIVE.com