{"id":1244152,"date":"2023-03-30T10:13:34","date_gmt":"2023-03-30T04:43:34","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1244152"},"modified":"2023-03-30T10:14:05","modified_gmt":"2023-03-30T04:44:05","slug":"indian-it-companies-will-hire-40-less-techies-this-year-survey-report","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/indian-it-companies-will-hire-40-less-techies-this-year-survey-report\/","title":{"rendered":"Indian IT Companies Will Hire 40% Less Techies This Year (Survey Report)"},"content":{"rendered":"\n

While remaining wary of the prevailing global outlook, the IT companies in India may cut down hiring of engineers by around 40 percent year-on-year (YoY) in FY24, as per the media report<\/a> citing data from TeamLease.<\/p>\n\n\n\n

Hiring Remains Flat<\/strong><\/p>\n\n\n\n

\"Indian<\/figure>\n\n\n\n

The IT companies have added a net headcount of around 280,000 in FY23 so far, the data showed.
<\/p>\n\n\n\n

According to the Chief executive officer of TeamLease Digital Sunil C, the hiring in Q4 will ‘remain flat’ as attrition and growth visibility have reduced.<\/p>\n\n\n\n

 Further added, \u201cWe expect a 30-40 percent drop based on the current outlook. But this could change six months down the line if companies change their growth forecasts,\u201d Sunil added.<\/p>\n\n\n\n

It appears that inflationary pressures, the Russia-Ukraine crisis, and the US and European banking spiral have made the Indian IT industry cautious. <\/p>\n\n\n\n

Besides this, the record hiring and attrition numbers in FY22 and H2FY23 have kept costs high.<\/p>\n\n\n\n

There is a possibility that this quarter may see negative headcount growth among IT companies as the top eight firms hire less. <\/p>\n\n\n\n

The expansion hiring will be ‘dull, if not absent’, said Co-founder Kamal Karanth, Staffing company Xpheno in a media report.<\/p>\n\n\n\n

 Accenture announced 19,000 job cuts to manage costs last week.<\/p>\n\n\n\n

On the other hand, Cognizant added 5,900 jobs and the next two quarters don\u2019t seem optimistic on net job additions.<\/p>\n\n\n\n

In the current scenario, there is also less risk of people leaving their jobs and Sunil said that they cannot confirm layoff plans, restructuring may be on the cards, said TeamLease.<\/p>\n\n\n\n

Working Off-shore Benefit For India<\/strong><\/p>\n\n\n\n

During such times if uncertainties, International companies\u2019 off-shoring roles to India may be the silver lining. <\/p>\n\n\n\n

The backfills and replacement hiring will continue, said AR Ramesh, director – managed services and professional staffing at Adecco India. <\/p>\n\n\n\n

The skilled jobs will benefit while non-billable roles are more likely to be axed, said Mrinal Rai, principal analyst at ISG.<\/p>\n","protected":false},"excerpt":{"rendered":"

While remaining wary of the prevailing global outlook, the IT companies in India may cut down hiring of engineers by around 40 percent year-on-year (YoY) in FY24, as per the media report citing data from TeamLease. Hiring Remains Flat The IT companies have added a net headcount of around 280,000 in FY23 so far, the […]<\/p>\n","protected":false},"author":27,"featured_media":1244213,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[133,142],"class_list":["post-1244152","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-it-employees","tag-it-layoffs"],"acf":[],"yoast_head":"\nIndian IT Companies Will Hire 40% Less Techies This Year (Survey Report) - Trak.in - Indian Business of Tech, Mobile & Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/indian-it-companies-will-hire-40-less-techies-this-year-survey-report\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Indian IT Companies Will Hire 40% Less Techies This Year (Survey Report) - Trak.in - Indian Business of Tech, Mobile & Startups\" \/>\n<meta property=\"og:description\" content=\"While remaining wary of the prevailing global outlook, the IT companies in India may cut down hiring of engineers by around 40 percent year-on-year (YoY) in FY24, as per the media report citing data from TeamLease. 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