India’s information technology services industry would see a hiring freeze this year and executives would be cut by 20-25% in wages due to the negative impact of the coronavirus pandemic, said Mohandas Pai, a veteran of the IT industry. The former Chief Financial Officer of IT services major, Infosys Ltd, said the IT industry has done a “fabulous, unbelievable and remarkable” job in transitioning more than 90 per cent of its employees to work from home. It has achieved this task by setting up infrastructure at home, taking permission from their clients, and making sure that “security and oversight are there. The chairman of the private equity fund Aarin Capital and Manipal Global Education have declared that 25 to 30%, perhaps more, of the employees of IT companies will continue to work from home on a rotating basis, even after the closure of the caused closure by the coronavirus and the situation returns to normal. Speaking to P T I, Pai said he does not expect demand for office space in the IT sector to decrease in the future, as businesses now have to maintain social distance in their small offices.