Highlights

  • Tech giants reducing hirings by 90%
  • Global tech job openings plummet by over 50%.

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Top 6 global tech giants, including Amazon & Meta see 90% dip in job posting in India, says report

Expectations are looming for a prospective two-quarter halt in hiring attributed to the global economic conditions and the rapid advancements in AI. On a worldwide scale, major tech corporations have significantly reduced job openings by more than 50%.

Top 6 global tech giants, including Amazon & Meta see 90% dip in job posting in India, says report

Top global tech companies like Facebook, Apple, and Google may soon freeze hiring altogether in India. Data compiled by Xpheno, a specialized staffing firm, revealed a whopping 90% decline in job postings by the leading Big 6 firms, including Amazon, Microsoft, and Netflix, in India.

The current year, 2023, witnessed an unprecedented slump in active job listings compared to the previous year, hinting at an imminent hiring hiatus by these technology behemoths in the Indian market.

The global economic slowdown has hit the technology sector hard, with a substantial portion of its revenue linked intricately to the performance of the US economy. Google, notably, made headlines last year with the largest job cut in its history, laying off 12,000 employees in response to the economic slowdown.

Prasadh MS, head of workforce research at Xpheno, highlighted to ET the prolonged impact on experienced lateral talent movements, emphasizing the persisting trend of little to no hiring activity among these firms.

The question looms: when will this hiring pause come to an end? A report by Economic Times suggests that the demand for tech roles within companies like Google, Netflix, and Meta has witnessed a substantial 78% decline in 2023, particularly in India. Given the current global economic climate and advancements in artificial intelligence, experts anticipate this hiring hiatus to endure for the next two quarters.

Globally, major tech players have slashed job openings by over 50%, with less than 30,000 vacancies available. Moreover, the core operations in India employ fewer than 150,000 individuals, depicting a stark decline in job opportunities in these tech giants.

The crisis isn't limited to established tech corporations alone; Indian startups have also felt the brunt, witnessing layoffs totalling 28,000 jobs nationwide, adding to the prevailing job scarcity in the technology sector.

As the year draws to a close, the ominous spectre of minimal tech job opportunities continues to cast a long shadow over India's burgeoning job market.

Also Watch: Only 10% of engineers graduating this year may be hired in India: Report


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