Job Seekers in IT Sector could suffer Jolt, TCS, Infosys to Hire Less Employees This Year

There has been a large number of hirings in the IT sector for the last several years. However, job opportunities in this sector may decrease this year. Big IT companies like Tata Consultancy Services (TCS) and Infosys may do about 40 percent less hiring this year. The reasons behind this are uncertainty about demand and slowdown.

a media Report Quoting data from staffing firm Xpheno, it has been said that big IT companies can hire 50,000 to 1,00,000 employees in the current financial year. This will be less than half of the hiring of more than 2.5 lakh employees by these companies last year. In the first quarter of this financial year, there was a reduction of 21,838 employees in the country’s top software services companies – Tata Consultancy Services, Infosys, HCLTech, Wipro and Tech Mahindra. The staff of global IT companies like Accenture, Capgemini and Cognizant, which have their presence in India, has also reduced.

The business of IT companies grew rapidly during Corona. However, in the last one year, the slowdown in the sector has increased due to weakness in the global economy, many companies ending work from home and calling employees to office and the war between Russia and Ukraine. Recently, a report by JP Morgan said that rising inflation, supply chain difficulties and the war between Russia and Ukraine may curb the growth of Indian software companies. The hiring of contract workers in the IT sector is also decreasing. There may be weakness in the next few quarters also.

Earlier this year, global IT company Microsoft had decided to lay off thousands of workers. The company plans to reduce its workforce by about 5 percent. About 11,000 workers may be laid off from Microsoft. This will have greater impact on engineering and human resources divisions. The company is under pressure to maintain the growth rate of its cloud unit Azure. The personal computers market has also suffered losses due to the recession in the last few quarters. This has led to a huge decline in the sales of Microsoft’s Windows and devices.