IT industry 'may be on cusp of downturn'
02 October 2008
The current economic climate may reduce the demand for IT contractors, according to an industry expert.
Gerry McLaughlin from ITcontractor.com has said there is currently a boom in contractors for information security jobs but the industry may be on a "cusp of a downturn".
He added that if managers "look to outsource" when the market turns they could begin to cut both their permanent and temporary staff.
"Once companies have got rid of contractors and cut a few of their long term staff, finance directors then look at long term solutions in terms of cutting costs - and the solution they often come up with is outsourcing part or all of their IT capability," he added.
A recent report by e-skills UK and Experian projected that the IT industry will grow by 2.5 per cent per annum over the next eight years, which would be five times faster than UK employment as a whole.
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