Machine Learning Engineer

What is the impact on Indian IT due to the U.S. elections? Please provide reasons to substantiate your answer.

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Experts: What is the impact on Indian IT due to the U.S. elections?

Associate Manager

Experts: What is the impact on Indian IT due to the U.S. elections?- Grapevine

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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

Was speaking with 2 people I know who work at Amazon and Meta respectively. They both shared that spending on recruitment is going back up, because their orgs believe that by mid 2024, market will be back in full swing. 

Hoping this is true. Good times are back soon, if this ends up being. 

What do you guys feel? Anyone working at a large company and has similar internal projections that your org has made?

Heard from ppl in Amazon & Meta in the US, their internal projections for market recovery are June/July next year 🤞

Analyst

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]

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What u guys think will there be mass layoffs in Indian IT in coming days??

Layoffs

Welcome to News Discussion's Private Community

IT industry is going on the least downfall as compared to the last 20 years. College graduates are not getting jobs and the IT professionals are in the fear of loosing their jobs anytime. There is no surety for any company or any employee even of they have given their best for the last n number of years. 

Is it fair for us to vote the government on religious grounds? 

Do check out this video 

https://youtu.be/H7zzrcanm3Y?si=pLvJnoKArUXBkyNM

Kudos to Ravish Kumar for unvieling the reality of the government

Pointing out mistakes is fine. But just want to ask the options out here? Between Modi & Rahul Gandhi (probably the PM candidate)...I don't it can be much clearer than this. I see all these andhbhakt comments in this chat but I will rather be a Andhbhakt than vote for a person who has never held a position of power and wants the position of PM all because of his surname.

Software Developer

Data Analyst

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

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

"Have you heard of a change in Section 174 of the US tax law that kicked in a few years ago? This change is making bootstrapped software businesses completely unsustainable. 

Basically, all costs related to R&D cannot be expensed, including labor for software development. These costs have to be capitalized and amortized over 5 years – or 15 if labor is done outside of the US. I have no other way to put it: this change is completely insane. Everyone I talk to says the same.

I am curious if this has come up in your discussions with other bootstrapped companies?"



https://blog.pragmaticengineer.com/section-174/

What do you think of Section 174? And how does it affect offshoring in India?

Research 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

Is it time we should start thinking about other than IT as there are uncertainty around jobs and Indians are easy targets for any recession. 
Not every layoff is due to bad performance but it is a layoff indeed. To avoid such dilemma and fear, should we move out of country or IT?

Should we stay in IT or look for something else ?

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?

Software Engineer

Goldman Sachs plans fresh round of job cuts, to dismiss underperformers by next month.

Goldman Sachs planning of job cuts.

Project Coordinator

The Internal Revenue Service (IRS) of the United States has revised its stance on Research & Experimentation (R&E) amortization, as outlined in Section 174.

Previous System: Companies could immediately deduct their entire Research & Experimentation (R&E) expenses in the year they were incurred.

New System: Under IRS Section 174, these expenses must now be amortized, meaning they are deducted over several years. The period is 5 years for domestic (U.S.) R&E expenses and 15 years for foreign (non-U.S.) R&E expenses.

Example:
Scenario: A U.S. Software Company Outsourcing to India
Company: XYZ Corp, a U.S.-based software company.
R&E Expense: $150,000 spent on software development in India in 2023.

Previous System (Immediate Expensing):
In 2023, XYZ Corp could deduct the entire $150,000 from its taxable income.

New System (Amortization):
Over 15 Years: The $150,000 must be divided over 15 years because it’s a foreign expense.
Annual Deduction: $150,000 / 15 years = $10,000 per year.

Impact: In 2023, XYZ Corp can only deduct $10,000 of the $150,000 expense. The remaining $140,000 will be deducted in equal parts over the next 14 years.


--

Could this potentially impact the volume of business flowing to India?

IRS Section 174 Impact on Indian Tech Companies

Founder

Earlier someone was very skeptical about Bharat growing at 7+ %. Here you go.......live long enough to witness the journey
Like I said (1.07)^50 = 29.45 times current GDP

Indian Century✊️

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?

Do you know if your company, or any other company that might be affected due to SVB’s ripple effect in India?

SVB’s impact on Indian tech companies

Product Head

This is a bit surprising tbh, i still see them in demand everywhere

Record lows in software hiring 😮

Product Owner

share hiring links or information related to hiring
any role, but related to Indian startups

who is hiring?... 🧵

Welcome to Moving Abroad's Private Community

The IT companies seem to be reluctant to send on-site and US companies are not hiring international grads, so MS is also not a good option anymore. What’s the solution then for folks who want to atleast work abroad, leaving out the PR/GC option for now.

Experts: What is the impact on Indian IT due to the U.S. elections?

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