Hyderabad: Software professionals are having second thoughts when it comes to taking banking loans. They are also exercising caution in spending money during the weekends as the IT industry is passing through a difficult phase with job cuts looming large.
Sundeep Kumar Makhthala, president of the Telangana Information Technology Association (TITA), said, “Techies used to unwind with friends and families during the weekends. They used to go for fun-filled recreational activities, which were seen as stress-busters.”
“However, due to the present uncertanity in the IT industry, these activities have come down. The spending pattern has definitely changed in the last few months,” he added. IT professionals have realised the need to save money to live in the hard times.
