Tech Amid global slowdown, large tech companies almost halt hiring in India: Report
Mumbai/IBNS: Large tech companies have nearly stopped hiring new employees amid the global slowdown, media reports said.
A report by Economic Times says Facebook, Amazon, Apple, Microsoft, Netflix and Google (Alphabet) or FAAMNG have almost stopped hiring.
The report claims the companies have reduced 90 percent job postings in India this year as compared to 2023.
The current active hiring numbers have gone down by 98 percent to 200.
Prasadh MS, head of workforce research at specialist staffing firm Xpheno, said as quoted by Economic Times, "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."
"It will be a signal for smaller companies to stay cautious,"he said.
"Maintaining the status quo requires replacement hiring action, with no significant net talent additions recorded,” he said.
The report says the active openings' number is currently under 30,000 across the large tech companies.
Some big players like Microsoft, Amazon have reportedly slashed hundreds of thousands of jobs.
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