The fast-moving nature of information technology is causing frequent obsolescence of technologies and competences. Changes in the environment cause a reduction in the need and demand of old competences. This results in a depreciation of these old competences and a reduction in performance in comparison to individuals with up-to-date competences. Obsolescence is especially relevant for IT professionals because the technologies they work with, and thus the demanded competences, change particularly frequently. However, what effect does that have on the education and development of IT professionals and IT work? To answer that question, we have conducted a systematic literature review. We have analyzed 115 relevant hits and identified key aspects and issues for future research. Causes for obsolescence, consequences of obsolescence, and counter-measures against obsolescence are presented as the three central dimensions of the topic.