No IT jobs in 2024; Google and Amazon are pausing hiring in India
According to statistics acquired by employment agency Xpheno, the number of active job listings of major big companies Google, Amazon, Meta & Apple in India has decreased by 90 percent as compared to 2022.
No IT jobs in 2024; Google and Amazon are pausing hiring in India; job openings are down by 90 percent.
The Indian tech industry has been greatly impacted by Silicon Valley‘s maneuvering through the difficult terrain of economic downturns and layoffs. Tech behemoths like Google, Amazon, Meta, Apple, and others are apparently slowing down their hiring procedures and may even decide to stop employing altogether.
A news report claims that these tech behemoths are putting a stop to hiring because of the global economic slump. According to statistics acquired by employment agency Xpheno, the number of active job listings of major big companies in India has decreased by 90 percent as compared to 2022.
There are as few as 200 unfilled positions currently held by companies in India, which is 98 percent lower than their usual hiring levels.
The industry’s current difficult times are reflected in the main tech firms’ hiring freeze. The world economy is contracting, and businesses are finding it difficult to increase profits, carry out reorganization plans, and see a halt in project development.
According to Prasadh MS, Head of Workforce Research at Xpheno, “the low to no hiring action maintained by the cohort over the year will continue to impact tech talent movements, especially in the experienced lateral layers,” in a statement sent to print media. He also emphasized that smaller businesses should proceed with caution when top enterprises halt employment. “Maintaining the status quo requires replacement hiring action, with no significant net talent additions recorded,” he stated.
For the next two quarters, conservative recruiting practices are anticipated, according to IT analysts and industry experts. Weakening demand and an emphasis on enhancing staff utilization are to blame for this.
According to the report, the tech sector experienced a significant decrease in hiring as a result of the economic downturn and worries about a possible recession. By December 2022, active demand from large tech businesses had fallen to a 1.5-year low, down 78% from July.
“Across the Big Tech companies and their affiliates, there are currently less than 30,000 total active posted positions worldwide. Big tech corporations like Microsoft, Amazon, and Google have eliminated hundreds of thousands of jobs worldwide, according to the research.
Notably, the main tech companies—Facebook, Amazon, Apple, Microsoft, Netflix, and Google—now employ a little less than 150,000 people in India for their primary businesses. But there was a notable decline in recruiting in 2023.
Senior vice president at IIFL Securities’ IT division Rishi Jhunjhunwala expresses cautious optimism, saying, “Hiring should gradually start picking up in 2024 as some of the overtiring from 2023 gets corrected. Although the outlook for growth hasn’t entirely improved, there are indications that it will gradually get better in the upcoming year.”
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