18:04 16 April 2024
Post by: WBJ

Debt in the IT industry is growing. Layoffs will follow

Debt in the IT industry is growing. Layoffs will follow
Source: Pexels

The debt of the IT industry increased by 1/3 over 2 years, reaching PLN 264 million, with PLN 400 million owed by clients, according to the National Debt Register. Factors such as reduced post-pandemic demand, inflation, economic conditions, and debtor payment liquidity issues contribute to this rise.

Despite challenges, the Polish IT market is projected to grow by 19.2% in 2024, with IT's share of the Polish GDP increasing. However, there have been group layoffs, with hundreds losing jobs, particularly impacting B2B workers. Pandemic-induced remote work demands boosted IT services, but post-pandemic, there's a decrease in job offers compared to 2022.

The debt profile includes amounts owed to financial institutions and other IT entities.


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