War with Ukraine will be terrible for corporate growth via /r/wallstreetbets #stocks #wallstreetbets #investing


War with Ukraine will be terrible for corporate growth

If there’s one industry where talent is a bottleneck for growth, it’s IT. You may not believe it being on this echo chamber of a site where /r/programmerhumor consistently hits the front page, but not everyone works in the industry. In fact, there’s a massive shortage of talent, which for last year was estimated to be 40 million workers worldwide.

Because of this, companies resorted to hiring IT workers from overseas. The primary markets for this are India and Ukraine, as both of these countries have a large talent pool of highly skilled workers. Ukraine is particularly sought after for skills in data analytics, BI, software engineering, DevOps and AI. This phenomenon is so widespread that it even has it’s own Wikipedia page, and the figures might surprise you.

90% of Ukraine’s IT services are outsourced to other countries

The share of the IT industry in Ukraine’s GDP is 4%

What happens when all of these IT professionals get conscripted and have to put down their MacBook Pro and pick up a Kalashnikov? For a lot of companies, the majority of their IT workforce will be gone.

The below are taken from some of the biggest IT outsourcing firms in Ukraine.

https://www.softserveinc.com/

https://preview.redd.it/d392l43a1wh81.png?width=1121&format=png&auto=webp&s=3dc700b38c3cff109d01a7f4e55eda170ee3b3d4

https://luxoft.com

Luxoft provides a full range of custom software development services and enjoys long-term relationships with clients including some of the best-known global business leaders, such as Boeing, Deutsche Bank, IBM and Dell

https://www.n-ix.com/

https://preview.redd.it/4g1rv8xd1wh81.png?width=1487&format=png&auto=webp&s=2d5d295c61919cf369fb16976a70ca1bfc315f98

https://www.globallogic.com/

https://preview.redd.it/wc2fjazg1wh81.png?width=1535&format=png&auto=webp&s=7f9fb8cd9bffd56b30809c73a5954e7970d6e6c6

Submitted February 15, 2022 at 01:06AM by emberaboveall
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