Common India L

On top of the Iran war, political/corruption issues with the Modi administration, and other issues many countries are facing, I’ve heard that the fact that many major corporations, especially in the US, have significantly been reducing staffing to reduce costs as the stock boosting effects of the last couple of years’ stock buybacks start to fade and the “AI” craze has deceived executives, offshore contracting to India, especially in tech, has taken a big hit. Maybe not in numbers of employees since those same corporations have replaced lots of local staff, but definitely in money amount. Companies are dumping their expensive, experienced staff and replacing with cheap, inexperienced staff hoping that “AI” will make less skilled staff as effective as those with actual knowledge. It’s creating a ton of issues and “AI” is definitely not living up to expectations (just as people who understand what LLMs actually are have been warning about the whole time), but companies continue to cut especially skilled workers. A lot of companies’ productivity is suffering. But without competition after many years of consolidation in many industries, it probably will be a while before it corrects, if ever. So, it’s unlikely those skilled contractor agencies will survive. So, stocks are taking big hits from that as well.