Tech sector hiring may see a pause for 6 months as companies watch out global trends

Staffing experts expect the next six months – the first two quarters of FY24 – to be grim for IT hiring, which comes ahead of companies reporting their results for the final quarter of FY23 and the full year from next week. Hiring trends will be keenly watched, as net headcount additions are considered to be an indicator of demand amid a larger challenging macroeconomic climate.

“IT companies, initially in the earlier quarter, had planned to warm up that they will start hiring. Because of the banking meltdown, and banking being a reasonably large portion for IT services, it is muted,” he says.
Anshuman Das, the CEO of Careernet, said Q4 was muted due to the banking crisis, which scuttled plans that companies may have had.

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