Firing only in over inflated tech startups, core sectors are doing great- banking, telco, hospitality

Business Development Manager

Please look up what a recession is and how it's defined 
  
 Despite tech layoffs, overall unemployment in India is trending down, manufacturing is up, trade is looking healthy and investment flows are stable

no, i guess its increasing and cross 8% mark officially, might be more on ground

Software Engineer

Anything that happens in US does pass on its effects

Check the comments of the original tweet. You will know why it's 0%

Of course due to the great leadership of our Honble PM Narendra Modi who else 😐😐😐 
 It's like everything good that happens in India is only due to Modiji, anything bad is all a conspiracy by Deep State.

Founder

Economy is not run or defined by inflated tech fueled by cheap borrowing.  Job market has improved over past few months, take a look at the core sector.

Data Scientist

Welcome to News Discussion's Private Community

This 0% recession in India doesn't look convincing. The job market is still in a slump, firings are going on. And this will be a ripple effect on other sectors.

This 0% recession in India doesn't look convincing. The job market is still in a slump, firings are going on. And this will be a ripple effect on other sectors.- Grapevine

Germany and many other nations on border line.

Impact on India viners?

UK under recession 💣💣💣

Senior Consultant

Welcome to Software Engineers's Private Community

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 ?

Software Developer

https://themorningcontext.com/internet/what-does-softbank-know-about-india-that-others-dont

Softbank is looking to offload India investments at any cost.

Can someone please upload a pdf?

Analyst

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?

Following wester consumerism blindly is the reason when most DINK couple decides not to have kids. The age old colonial term of "civilising the brown is white man's responsiblity".
Let me burst this bubble of ever happy life and not having dependency of kids,they are not investment,etc etc.
 I wont highlight if its right or wrong here for it lots of post are there. I better highlight what will happen after next 20 30 years as I can learn from west(USA) lifestyle pattern.
All these people have kept most of their money in *paper* assets like PF,Bank FD,stocks. Reason for highlighting the word paper will see.
 As the number of oldies will increase over youngsters. Govt will need more youngsters as economy is worked upon by them. No loan takers,no new consumers. What will happen stock prices will fall,same goes for bank interest ,in worst case you wont be ablw to withdraw your principal even(happening in australia, people have to inform why they are withdarwing cash to bankers).
Next for pf: when ww contribute to PF we pay foe the payback of current retired generation or basically we are paying their debt. But due to lack of youngster no one will pay your debt so forget your PF as well.
This is how your money bubble of Crores will vanish. 
There is a term debt to gdp ratio, ever heard? Its the debt taken by govt from future generations to develop current lifestyle. Hence still govt need people to sustain and payback that debt so they will allow illegal immigrants ( what you are seeing in USA and Europe in name of "multicultralism").
And you know what? These rowdy immigrants will fill your city and you will become second class citizen why cause its democracy and majority rules. Noone will protect you leave alone police actually there is no one "left" to protect you( read statements of Canadian police regarding car thefts you will find similarities).
Still oldies are there so new experimentation on assisted suicides(Canada is leading the way in current timeframe).

A letter to DINK couple

🤣🤣🤣 
 Love this! Trying to force opinions on people in "their" way. 
  
 You like kids? Have them. 
 People who don't want. Leave them alone. 
  
 Parents or non parents, no one is taking those money with them. Might as well enjoy this life than paying lakhs in school fees. 
  
 Yea yea "bet your parents didn't think that way". Honestly, tshould have.

Consultant

Welcome to IT Company Discussion's Private Community

That bad?

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?

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 ??

We've witnessed so many layoffs in the past year and this continues to be an upward trend. Bangalore is a city of IT professionals and these layoffs seem to have no effect on the real estate. 
Is this because the numbers are negligent? I don't think that's the case, my company has been laying off people since last year. It was never public. I'm sure there are lots of such companies. 
What are your thoughts?!

How is there no correlation to layoffs and Real Estate?

There is a lag effect, give it a few months and you will see rents and prices not increasing anymore

When the market will stable , when this layoff period will go away ? Any thought 🤔

When this layoffs time will go away .

Is It sector in India dying?

DevOps Engineer

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.

TikTok Layoffs | ByteDance cuts hundreds of jobs globally as platform shifts to AI moderation: Report https://www.livemint.com/companies/news/tiktok-layoffs-bytedance-cuts-hundreds-of-jobs-globally-as-platform-shifts-to-ai-moderation-report-11728720808330.html

AI effect.

Human Resources

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

There are rumours that fresh rounds of layoffs were to happen in next two weeks. Here is my take on the layoff spree.

High inflation, low jobs, less on spending, economic meltdown for IT employees, impact on IT cities like Bengaluru, Hyderabad, Pune, Mumbai, Chennai. 

Less spending on equity, mutual funds, real estate(premium villas, apartments). Chances of housing loan defaults, NPA on raise and the recession crisis. This will go for next 6 months. So, stay where ever you are. Don’t change jobs in this market

Fresh round of layoffs to happen

Lawyer

What do you guys think is the reason behind the job market being at its lowest level since past 6-7 months ?

(P.s- i made a horrible mistake by joining a cpa outsourcing startup , I'm not been assigned any client for the past one year also they have not given me any kind of training. I'M FUCKING TRAPPED !!)

Job market

External Audit

When the whole world is coming to India for FTAs, this guy is writing a suicide story for already crippled Canadian economy. A “could be” statement from a Prime Minister 🥱

Disaster named “Trudeau”

And still a lot of people are migrating to so called crippling Canada over India speaks a lot about the situation in India ig.

Senior Associate

Product Manager

I recently saw how the recession is hitting everywhere in India. Many college's placements have been affected and significantly fewer companies are coming for fewer opening and packages even in top colleges.

What is the situation at you college/salary? 
How is hiring scenario looking for current batch?

Market conditions

Welcome to Personal Finance's Private Community

I have put lots of my liquid money into P2P lending and get 1k daily from cred mint, mobikwik xtra and 12%.

Reason- My bank pays interest which hardly can beat inflation.

Question - Where should I park my liquid money ? 

PS - Markets at high and real estate is bound to crash.

P2P lending diversification

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.

This 0% recession in India doesn't look convincing. The job market is still in a slump, firings are going on. And this will be a ripple effect on other sectors.

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