There was this war for talent that these firms would publish. Its never the same anymore post chatgpt

Recruiter

https://www.deccanherald.com/business/hiring-woes-continue-for-it-sector-in-q2-fy24-2780140

Actuarial Associate

Welcome to Office Gossip's Private Community

Hiring woes continue for IT sector in Q2 FY24

Hiring woes continue for IT sector in Q2 FY24- Grapevine

Welcome to News Discussion's Private Community

- Major Indian IT companies like Infosys, HCLTech, and LTIMindtree have deferred wage hikes to Q3 FY25 due to sluggish demand. 
- This delay reflects the uncertainty in the global demand environment, particularly for discretionary IT services. 
- Aggregate margins may increase by 25 basis points sequentially, with HCLTech leading. 
- However, not all firms are benefiting equally from this cost-saving measure. Mid-tier players may still face headwinds related to earlier commitments to employee compensation. 
- Analysts are optimistic that wage hikes are imminent as the worst is believed to be over.

Source: [Moneycontrol](https://www.moneycontrol.com/technology/infosys-hcltech-ltimindtree-shift-wage-hikes-to-q3-to-sustain-margins-amidst-weak-demand-article-12834589.html)

Indian IT Firms Delay Wage Hikes Amidst Weak Demand

Journalist

TCS says workforce down by 6333; Infy head count down by 7250 & HCL Tech’s down by 2299. Not good news from an employment angle.

Hiring down

Founder

Hiring mandates for IT talent stood at 124,000 in February, which is a nearly 50% jump compared to January and 33% higher than in December, data from staffing firm Xpheno shows.

Tide seems to be turning for IT as hiring mandates rise 50% in February

IT Hiring mandates up by 50% monthly in Feb 2024 (vs Jan 2024). Finally some good news that hiring market may recover!

Software Developer

Welcome to Indian Startups's Private Community

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

Record lows in software hiring 😮

Product Owner

Today evening Google’s VP of Recruiting had an all hands call with global recruiting team to tell them that there’s more layoffs happening in recruiting and people will find out about it through emails in next couple of hours.

Such a shitty time to be alive.

Google Layoffs - Recruiting

This is so sad, petition for Grapevine to start a jobs section to help people who get laid off

Product Manager

Program Manager

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

Corporate Strategist

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Is It sector in India dying?

DevOps Engineer

- **India's top IT firms** are controlling people costs amid a global slowdown.
- **Middle and senior executives** are being replaced by junior employees, with upskilling investments accounting for 5-7% of costs.
- **Wage costs** for TCS, Infosys, and HCLTech have declined, while Wipro saw a slight increase.
- **Attrition rates** have risen slightly across major firms.
- **Future hiring** remains uncertain, influenced by global events and market conditions.

Source: [Mint](https://www.livemint.com/companies/latest-company-news-today-on-october-19-2024-live-updates-11729296010195.html), [Mint](https://www.livemint.com/companies/people/india-it-services-employee-costs-wage-costs-hiring-attrition-cost-cutting-demand-it-slowdown-tcs-infosys-hcltech-wipro-11729242822117.html)

India's IT Firms Tighten Wage Belts Amid Slowdown

Once known for hiring hundreds of thousands every year, five of India’s top six information technology services companies reported a reduction of 73,600 in their total headcount in the last fiscal year. Is the backbone of the Indian economy weakening?

India's IT sector in a free fall?

Consultant

People who were affected just got emails. Orgs include Search, Cloud, Ads , Assistant,  Pixel, etc. Engg is affected

Big layoffs at Google!

Last I saw someone post that his Google Interview has started.  
  
 Guess, FAANG are showing their fangs.  
  
 Apple laid off subcontractors and not employees from what I read.

Software Engineer

Research Engineer

Welcome to Software Engineers's Private Community

Is 2024 gonna be even bad year for job seekers. Last 1.5 years was terrible. Please share your thoughts

2024 Outlook for Software job seekers

IT Boom again?

Business Analyst

As expected, with below par FY23 results , Accenture India have announced no base pay increase this year and considerably low bonus at all levels. 
High accumulation of top levels, high stakes acquisitions last year and some failed decisions are leading to this state where employees are getting financially impacted. While rest of the IT companies in India are seeing inclined growth, and sharing good increments this year (Wipro etc) , Accenture has decided to compromise on employee attrition.

No Base Pay Increase

I am seeing a lot of layoff related posts everywhere from news articles to LinkedIn.. Is the Job market really that bad now? Or just the media is projecting that way? 

If it's really bad, which department you think is the most affected? How's layoffs specifically in India? Or is it layoffs in US but more hiring in India due to cost cutting? 

Are layoffs in technology/engineering dept as in for developers or some other departments? Your thoughts please..

Job Market right now in India?

It is really bad right now 
 1. Layoffs in many of the companies, irrespective of whether they're a startup or a big MnC. 
 2. Almost everyone I know of wants to switch, because of no/less appraisals from last 2 years 
 3. Bad work life balance - people thinks switching might help 
 4. Too much competition for any open position. Because of too much supply, companies are low-balling and people would accept the offer.  
  
 Recruiters ghosting is too common. Even if you've killed in your interviews and recruiters get someone who's ready to join on less pay, they'll simply ghost you.

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 ?

There are news that massive layoffs are coming in Paytm. HR and Business Heads have been given targets - average 30% reduction expected across all teams. #bravenewworld

Massive Layoffs Coming - Paytm

Poor timing !! Festive season, Christmas/new year and these layoffs. 
   
 It's a remainder for everyone that companies won't even think twice before laying you off. So stop making any company your dream or glorifying it.

Data Scientist

Scary !

Account Executive

Roughly 2.5% of the workforce. Are there any details on teams and geographies impacted?

Accenture to Layoff 19k employees

Senior Manager

- Nearly 2,000 freshers offered positions by Infosys in 2022 are still waiting to be onboarded, according to affected individuals who spoke to Moneycontrol.
- These roles are for System Engineers and Digital Specialist Engineers, with pre-training sessions conducted as recently as August 19.
- Many candidates have not received credentials to log in to the online portal for pre-training sessions, which were to begin on August 19.
- Pune-based IT employee union NITES has requested the Ministry of Labour & Employment to investigate Infosys for alleged 'exploitation and unprofessional treatment' of these graduates.
- Infosys had hired over 50,000 freshers in FY 2022-23, which plunged to nearly 11,900 in FY 2023-24, amid fears of a looming recession and reduced discretionary spending in major markets. 

 Source: [Moneycontrol](https://www.moneycontrol.com/technology/infosys-delays-onboarding-of-nearly-2000-freshers-from-2022-batch-article-12802034.html)

Hiring woes continue for IT sector in Q2 FY24

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