According to a survey, employment activity in the Indian IT sector increased just a little bit in June 2023. People have been alarmed by reports of layoffs in the tech industry during the past few months.
The world was astonished and outraged when Twitter abruptly fired hundreds of employees in November of last year. They had no idea, though, that a number of businesses would soon be implementing widespread layoffs, leaving millions of families throughout the globe without a means of support. After all, layoffs never affect just one person; they have an impact on entire families.
People were therefore concerned when Google, Microsoft, Amazon, Meta, IBM, and other such giants began laying off workers left, right, and centre. And it seems that things were just getting worse as time went on. Many people turned to online job-search resources like LinkedIn and Naukri in pursuit of the greatest chance. As a result, finding a job in the IT industry became challenging.
Market for IT jobs expanding?
However, a recent article by IANS that was originally ascribed to foundit (formerly Monster India & APAC) claims that the situation with the tech job market is gradually becoming better. The recruiting activity in the industry increased by 2% last month. Even if this is a small number, it undoubtedly makes a difference and offers us hope.
Jobs have returned in industries including healthcare, manufacturing, and even information technology, according to Sekhar Garisa, CEO of foundit. As businesses review their talent requirements, we anticipate better hiring intentions in the upcoming quarter. India Inc. showed conservative hiring attitudes, as was common during any global slump, but this is certain to change over time.
recent layoffs at Microsoft
Microsoft reportedly announced yet another wave of layoffs earlier today. The business showed the 276 employees situated in Washington, USA, the exit door. According to reports, the affected individuals worked in the customer service, support, and sales divisions. 66 of these workers did remote work.
“Organisational and workforce adjustments are a necessary and regular part of managing our business,” a spokesman said in response to questions about the layoffs from CNBC. For our future and the support of our clients and partners, we will continue to give strategic development sectors top priority and financial investment.
Microsoft had already announced in January of this year that it would be cutting off 10,000 employees worldwide.