Facebook, Google, Apple, Microsoft and Netflix hiring in India dropped by 90% in 2023 – Times of India

Facebook, Google, Apple, Microsoft and Netflix hiring in India dropped by 90% in 2023 - Times of India

Big tech pack of ‘FAAMNG’ companies (Facebook (Meta Platforms), Amazon, appleMicrosoft, Netflix And GoogleIndia is said to be close. Recruitment A pause amid macroeconomic headwinds and global job cuts.
According to an exclusive report by the Economic Times, these companies have registered a 90% drop in active job postings in India in 2023 compared to the previous year. The story cites data collected for ET by expert staffing firm Xpheno. These companies are said to be at their lowest action point, with current active recruitment numbers down by 98% to 200 compared to its normal active recruitment volume in India.
The job cuts come at a time when the tech industry is reeling from a global economic slowdown, with project ramp-downs and sluggish revenue growth.
Prasad MS, Head of Workforce Research at Xpheno said, “The low or no hiring process sustained by the group throughout the year will continue to affect the mobility of technical talent, especially experienced ones. In the lateral layers.” This would be a signal for smaller companies to be cautious, he told ET.
“Alternative recruitment action is required to sustain the search, with no significant increase in net talent being recorded,” he added.
Even as of December last year, active demand from the large tech cohort is said to have already fallen 78% compared to July 2022, reflecting a nearly 18-month low for the group. , represents the data.
“The total number of active job openings globally is currently less than 30,000 among big tech players and their affiliates. Globally, major tech companies, including Microsoft, Amazon and Google, have cut millions of jobs. “, the report added.
The big tech companies – Facebook, Amazon, Apple, Microsoft, Netflix and Google – currently employ less than 150,000 people in their core operations and captives in India.
Rishi Jhunjhanwala, senior vice-president, covering IT at IIFL Securities, said, “The hiring process should start gradually in 2024 as some overcapacity is rationalized in 2023. While the growth outlook It’s still got to get better, hopefully it will. Start getting better little by little.”
Although sentiment for the sector has turned positive, the cautious investment strategy will remain largely unchanged until at least March, when the first round of rate cuts is expected. Also, expensive salaries and numerous offers are a thing of the past.

Technology news,Netflix,Recruitment,Google,Facebook,apple
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