Cutting off staff in IT businesses reduce to pre pandemic levels
The Chief Executive Officer of the 99x Hasith Yaggahavita said the cutting off of staff in the Information Technology businesses has reduced to pre pandemic levels. While the stability of the country’s economy and political situation has been somewhat beneficial, the surplus of tech professionals in Europe and other Western nations is affecting recruitment, noted Yaggahavita. He also highlighted that significant layoffs in European companies have resulted in a larger pool of tech talent available, thereby reducing the demand from countries like Sri Lanka. Yaggahavita also remarked on the diminishing allure of migration to ostensibly greener pastures.
99x, a Global Product Engineering Company, hosted a high-profile roundtable discussion titled ‘Poised for Growth in Europe and Americas’ at their premises in Colombo.The event brought together 99x’s industry leaders from Norway, Portugal, Brazil, and Sri Lanka to discuss 99x’s growth as a forward-thinking global technology leader.
The event provided a platform to discuss collaborative efforts within the 99x Group, with a focus on expanding geographic reach, enhancing service breadth, and leveraging global talent to drive innovation and customer satisfaction. Additionally, the discussions highlighted the rapid growth 99x has experienced following substantial investments in innovative strategies. These investments have not only attracted foreign capital to the country but also positioned 99x as a company committed to acquisition-led growth.
Odd-Sverre Ostlie, Group CEO of 99x Group, reflected on the company’s growth trajectory by stating, “The 99x group has grown both in geographical coverage and service offerings over the past few years. Our services now include product engineering teams, digital solutions and offshore services both in Europe and the Americas. We are committed to leveraging our global expertise to deliver innovative solutions to our clients, ensuring that we stay ahead of industry trends and meet the evolving needs of the market. The expansion of our geographical presence allows us to tap into diverse pools of talent and foster stronger relationships with our clients worldwide.”
The panel discussion further emphasised the integration of talent from global teams, with the 99x Group aiming to expand its presence from Scandinavia throughout Europe and the Americas. This visit particularly focused on exploring potential collaborations to invest in and scale operations in Sri Lanka, leveraging the depth of local talent and skills. Additionally, future collaboration opportunities in sales and solution building were explored.
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