Welcome to IT Company Discussion's Private Community

Do we still have the impact of recession in the IT market?? If yes, can we see any improvement in the situations in near future?

Associate Consultant

Do we still have the impact of recession in the IT market?? If yes, can we see any improvement in the situations in near future?- Grapevine

Why Tech Layoffs are Still Continuing ?

How long will it take to recover from recession?

Mostly businesses are out of India and IT engineers are in India due to which in India also layoffs are continuing so how to get rid off?

Is AI playing major role in layoffs or its due to recession?

As a support engineer what should be the next career path should take like DevOps , Development or Management etc.

When does IT recession get stable again ?

Support Engineer

Saw a similar post somewhere from an European and I think it’s pretty valid for India.

For context, I am in my early 30s, a home owner, living in tier-2 city with a pretty high salary. Recently got married and my wife also works as an Enterprise AE for a listed US company. Our cost of living is pretty low given the house and tier-2 city. Even if we had a kid, the overall cost of living will not change a lot. 

I got to where I am, economically, by a combination of hard work and luck. Luck definitely was a huge part of it. Knowing the right people at the right time, working on the right technologies helped a lot more in advancing my career a lot more than grinding for good grades. Even the ability to buy a house without much debt, was partly because I was lucky to sell my shares in a fairly small startup. 

It would be easy to say things aren’t economically bad based on my own experience or that of my close friends. However, when I look at things more objectively, I can’t help but come to the conclusion that we are screwed as a generation. Except for maybe the top 1%, salaries are not keeping up even with inflation. Housing costs, specially in tier 1/2 cities are unbelievably high even if you want an average apartment. Jobs are no where to be seen. The whole generation is living in the hope of the stock market rally never ending. This seems completely unsustainable as a nation. I might be doing well for now, but I still recognise how these are real problems for most Indians, who’ve been waiting for India’s century for 20 years

Given that the services industry contributes more than 50% to the GDP, the current state of joblessness, the overall sluggishness in IT and related sectors, and the fundamental changes happening to the way IT services now work, I wouldn’t be surprised if we see a complete recession in the next 4-5 years.  

Lately, there has been a lot of criticism of anyone expressing anger on how bad things are but I think it’s helpful to talk about this.

Is it possible for those doing well to still acknowledge how our generation is screwed economically?

Great post, I was thinking to jot down something similar.     
 The way I see is that our generation(I'm Gen Z), is financially fucked due to 2 main behavioral changes:     
 1. Increase in consOOmerism: We're zoomer consoomer. GenZ is known for show off culture. We will buy the latest and greatest phones on EMI every 2 years. People spend thousands on sneakers, bags, branded clothes.     
 2. No Savings: People are no longer saving money. My then girlfriend used to got mad at me in market when I tried to bargain. Its considered a turn off lmao. People find bargaining bad now... like I'm looting a poor guy. People don't realise how much our parents sacrificed and bargained everyday to save money.

Software Engineer

Welcome to Software Engineers's Private Community

Hello Folks! 
I'm a newbie on this platform, yet trying to put my insights as much as possible. Here to ask people out there who work in IT sector about how is the market going so far and when will this recession get down? To the on-campus and off-campus placed students, how did you manage to get placed even during the recession. Although the placements at our college is still on but only for Non-IT branches. I think the only people who are happy about the recession would be Non-IT people who have less competition and are getting placed at the core companies.

Recession

Welcome to News Discussion's Private Community

There are some chatter in the finance and economics circles that 2024 may see a world-wide recession, especially in the west (though it is an election year in the US).

What do you think (or better, know more) about it? Will it be as bad for IT as what we had post-Covid?

Recession by mid 2024?

TCS and Infosys came out with their quarterly results and the results were in alignment with the predictions. But the management were keen on cutting the future growth aspects there was a cut in future number expectations and the tone was a bit tense overall. What can we make of it? How does this affect the future of the JOB Market? Will they have to increase their headcount for growth? Won't the IT Industry require more force to push more hard?

Let's discuss. 🎤🎤🎤

What can we make of the recent TCS & INFY numbers ?

Software Developer

Everyday I am seeing hundreds of job posts when I apply there is absolutely no reply. That got me into thinking whether recession is going on because I am not getting any reply or not as I am seeing hundreds of job posts !

Is recession still going on or not ?

With big corporate giants like Google, Apple, Bain, Tesla, Amazon etc. laying off staff in the name of cost reduction, automation&innovation and restructuring while at the same time tech companies like Accenture not awarding any yearly hikes to professionals for 2 consecutive years now, where do you see the IT/Tech/Consulting industry heading towards in next couple years down the line? By when is the market expected to revive? Which companies are still committed to ensuring job security along with high pay standards or is that a thing of the past? Please enlighten me😊

Layoffs everywhere?

Senior Consultant

What does unemployment around you look like? Or if not around us, for people trying to come out of Tier 2/3 towns. These mass recruiters (behemoths like Capgmeni & Cognizant + TCS Infosys) are actually the gateway for many into a city life. In the absence of it, it's scary to think what they're up to.

What happens to those 1.5L students/professionals? Scares me everyday.

We probably will see an unprecedented economic divide in this country going forward if the unemployment rate stays this high. 
 And we know for a fact the government has tried to suppress this number to paint a rosy picture

Founder

Corporate Strategist

Is job market recovering ? I m seeing so many job postings with  10+ lpa for freshers 

Still many complain abt bad market showcasing recent google layoffs

I'm planning to switch , I'm not sure this is good idea or not!

What is current market situation?

Data engineer

- Tata Consultancy Services (TCS) slightly exceeded first-quarter revenue expectations but remains cautious about future growth due to volatile market conditions, according to CEO K Krithivasan.
- Customers are holding back on tech spending in preparation for economic uncertainties, impacting demand for Indian IT services since FY23.
- TCS reported a 5.4% rise in consolidated revenue to 626.13 billion rupees and an 8.7% increase in net profit to 120.40 billion rupees for the June quarter.
- The company secured deals worth $8.3 billion, down from $13.2 billion in the previous quarter, with significant contributions from mega deals like BSNL and Aviva.
- Analysts predict a demand recovery for the Indian IT sector in the second half of FY25, with a full-blown recovery expected in FY26, potentially boosted by an early rate cut in the U.S. 

 Source: Reuters

TCS Surpasses Q1 Revenue Estimates Amid Demand Uncertainty

Journalist

Welcome to Indian Startups's Private Community

Ye recession kab jayega.. din bhar me 20-30 jagah apply krta hu to agle hi din 10-15 jagah se rejection mail aa jata hai.. ab freshers hone ke naate kuch hwa nhi lgta ki Karu kya ab .. kitna accha project banau ..

Badi samsya hai bhai lyf me .

Recession ka अंत lekin kab ??

Is it good to switch to other company. How's the recession and layoff scenario in IT industry

Do you feel 2021 level of Job Market is back?

Suddenly the number of jobs have increased

Product Manager

A questions to the IT vetrans. Many of us wants to know, Is there any possibility of the current IT market to be stable in 2025?

Is recession is still going on for software industry or the supply has increased ?

More than 200,000 tech workers have been laid off in the U.S. between November 2022 and January 2023

Less revenue for US Companies -> Less revenue for IT Outsourcing -> More employees on PiP -> Layoffs 

Is this cycle right or am I missing something?

US Recession and Indian IT Service Companies Layoffs [Assumption]

Analyst

We faced a really slow moving job market in Indian IT last financial year. I heard this year it will open some opportunities. It is almost the end of April and I am not getting any calls from the recruiters. FYI, I am a Java backend tech lead, Open for architect position as well. Having 9+ experience entirely in the same technology and in the digital banking domain. 

I am worried, will the market ever be back to normal like it was pre-covid? Even during lockdown, there was a lot of hiring.  
What's wrong now? 
Wars one after another, making uncertainty.
I personally feel, during the WFH period they hired people from different cities and made them work together, which worked fine for WFH. Now they're forcing us to work with a team which is not in your office, not even in your city. Now, they don't need to hire people from the same city/location which makes their job easier. They just pick someone from the pool, internal  recruitment etc. 
People are fearing job security so a very few are putting papers, resulting in no vacancies. 

The market is completely biased towards employers and we can't do anything about it.
When will this end?

Has the job market changed forever?

Welcome to Product Managers's Private Community

Ask me anything except my company name, or things that can reveal my identity. I may respectfully choose not to respond to your question based on my own judgement.

Here’s a brief intro about me: I’ve worked as both software engineering manager & software technical architect over the last 18+ years on various tech stacks managing backend, frontend and a little bit of cloud. I have seen ups and downs in the software industry. Currently I’m working as a senior architect in one of the product based companies in India.

I’ve been an Engineering Manager before. Ask me anything.

Software Architect

It is a blood  bath out there and things don't seem to get any better, how long before the market stabilizes and we can start looking out for opportunities outside

Do we still have the impact of recession in the IT market?? If yes, can we see any improvement in the situations in near future?

Discover More

FAANG on

by Jordon Nadeen

Amazon

When does IT recession get stable again ?

Misc on

by Kendall Vernon

Hubspot

Is it possible for those doing well to still acknowledge how our generation is screwed economically?

Software Engineers on

by Kendall Olive

Student

Recession

News Discussion on

by Dezi Carmden

InMobi

Recession by mid 2024?

Software Engineers on

by Kalan Gabriel

New Startup

What can we make of the recent TCS & INFY numbers ?

Software Engineers on

by Blair Carmden

Cognizant

Is recession still going on or not ?

Layoffs on

by Kendall Lee

Deloitte

Layoffs everywhere?

News Discussion on

by Jordon Gabriel

Series A Startup

What happens to those 1.5L students/professionals? Scares me everyday.

Layoffs on

by Blair Nadeen

Accenture

What is current market situation?

News Discussion on

by Kendall Taye

Grapevine

TCS Surpasses Q1 Revenue Estimates Amid Demand Uncertainty

Indian Startups on

by Jordon Lee

Student

Recession ka अंत lekin kab ??

IT Company Discussion on

by Coy Lee

Oracle

Is it good to switch to other company. How's the recession and layoff scenario in IT industry

Software Engineers on

by Jordon Taye

Stealth

Suddenly the number of jobs have increased

Indian Startups on

by Matilda Olive

Stealth

A questions to the IT vetrans. Many of us wants to know, Is there any possibility of the current IT market to be stable in 2025?

Software Engineers on

by Jordon Gabriel

Student

Is recession is still going on for software industry or the supply has increased ?

IT Company Discussion on

by Matilda Carmden

EY

US Recession and Indian IT Service Companies Layoffs [Assumption]

IT Company Discussion on

by Coy Carmden

IBM

Has the job market changed forever?

Product Managers on

by Jordon Denver

Stealth

I’ve been an Engineering Manager before. Ask me anything.

IT Company Discussion on

by Coy Taye

Oracle

When do you see the hiring resume back to normal for the indian it industry?