Connect with us

Career

Tech Jobs in India Record Decline: An MBA Career Exploratio

Published

on

Last Updated on December 26, 2023 by Robert C. Hoopes

Title: Google and Facebook (Meta) Set to Implement Complete Hiring Pause in India

Subtitle: Hiring Freezes and Job Cuts Impact Tech Talent Movements Across the Country

Google and Facebook (Meta) are reportedly planning a complete hiring pause in India, as the global economic slowdown takes a toll on tech giants. According to the Economic Times, these companies, along with other tech giants like Amazon, Apple, Microsoft, and Netflix, are experiencing a drastic decline in active job postings in India.

Specialist staffing firm Xpheno recently reported a staggering 90% decline in active job postings by these Big 6 companies in India. In fact, active hiring by these firms has reached an all-time low with a 98% decrease, leaving many tech professionals worried about their career prospects.

The situation has been worsened by the fact that a significant portion of these tech companies’ revenue is tied to the US economy. This vulnerability has made them particularly susceptible to the current global economic state, resulting in reduced job opportunities for tech professionals worldwide.

Google, for example, faced a massive job cut in 2022, with 12,000 employees losing their positions. Now, with the hiring pause, experienced individuals looking for lateral positions will face an even greater challenge in finding suitable job opportunities.

The demand for tech jobs offered by Google, Netflix, and Meta has significantly plummeted by 78% in 2023, with India being the most affected region. This decline is expected to persist for the next two quarters due to the current global economic climate and the rise of artificial intelligence.

See also  My MBA Career: College Graduates Share Their Feelings on Finding Jobs

These hiring freezes are not limited to global tech giants alone. Indian startups are also experiencing the impact, with 28,000 jobs being laid off throughout the country. The shrinking job market is making it even more difficult for individuals to secure new roles, creating a domino effect across the entire job market.

With the current scenario, tech talent movements across India are being heavily impacted. Professionals seeking positions with these tech giants or startups are facing limited options and increased competition for available openings. Moreover, the ripple effect caused by the lack of opportunities at these major companies is putting additional strain on the overall job market.

Despite the challenges faced by the industry, specialists anticipate that the global hiring pause is likely to persist for the next two quarters. The economic state and the progress of artificial intelligence are cited as some of the key factors for this prolonged pause.

Currently, the big tech players have approximately 30,000 job openings globally, marking a significant drop of over 50% in hiring activities. This downward trend in recruitment will continue to have a profound impact on the tech job landscape, particularly in India.

Subscribe to our MBA Momentum

* indicates required

Dina J. Miller is an accomplished writer and editor with a passion for business and education. With over a decade of experience in the industry, she has established herself as a leading voice in the MBA community. Her work can be found in a variety of MBA magazines and college publications, where she provides insightful commentary on current trends and issues in the field. Dina's expertise in business and education stems from her extensive academic background. She holds a Master's degree in Business Administration from a top-tier business school, where she excelled in her studies and developed a deep understanding of the complexities of the business world. Her academic achievements have been recognized with numerous awards and honors, including induction into several prestigious academic societies.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *