Yes - it is overcrowded. However, it does not mean it is impacting IT companies. It will impact employee not the company. There is no sign of slow down in volume and profitability.
Future of IT industry is bright; however, future of employee is not so.
Anyways, what it meant for us - employee. I am interested in safeguarding employee like you and me and not the company.
Keep the ego aside - avoid conflict with managers/senior resources or even colleague.
Start investing and saving for the future.
Beggars are not choosers - so stop demanding, I want to work only in PL-SQL or banking projects; especially when you are at bench.
Be prepared to study 24 X 7.
Don’t do larger than mouth expenses like purchasing flat, luxury car - first earn money and then purchase.
You can be easily replaced - don’t put hard efforts to get good appraisal. It hardly matters.
Keep yourself updated - whenever you see something is not going right then start giving interviews; however, I am not saying your job will be at risk - but just saying that prepare for the worst.
Be politically active, it is not true that you are top performer it means you are in safe zone.
“Hire and Fire” will be the trend, so don’t get emotionally disturbed by this and stop loving your company.
Do Spiritual practices - meditation, yoga, sudarshan kriya; these all will help in calming your mind with such mounting stress and job insecurity.
Don’t miss any onsite opportunity.
Don’t come into eyes of HR or Infosec. Big NO to Office Romance; keep romantic relations outside office. Stop visiting sexual websites like TimesOfIndia, Navbharat times etc.