IT Campus Hiring To Drop At Least 50% In CY2024

Campus hiring by the Indian IT industry is looking at a 50 per cent drop for the upcoming campus season, reflecting a significant downturn in the traditionally robust hiring trends of the sector.

The IT industry has had a very subdued CY2023, with financial performance across all major IT players in the country taking a major hit across H2 FY2023 and H1 FY2024 (CY2023 combined).

2024 Outlook

“Two factors which will be very important to watch out would be the crash landing of US economy into recession and further slowdown in China’s economy. If these two risks do not progress further and get subdued, then we would be able to mitigate the global impact on IT hiring trends,” said Anshuman Das, CEO at Careernet.

Further, Das anticipates subdued hiring in the first and second quarters of CY24, with a prospective recovery in the latter half of the year. “This shift is expected as the US monetary policy softens, paving the way for improved economic growth,” he added.

Das sees campus hiring in IT to see an overall dip of 25 per cent in 2024.

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