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IT Company Job News: Amid fears of recession in the world, layoffs are taking place in every sector. Especially the IT sector has also been greatly affected. Compared to the year 2021, more people have lost their jobs in 2022. On the other hand, in the third quarter of FY2023, IT companies have also given jobs to fewer people.
The country’s top 4 IT companies have given jobs to less than 5,000 people in the third quarter. There was also a decrease in the second quarter in terms of giving jobs. It added 28,836 employees during the period, which was half of the first quarter. In the number of employees, there has been a reduction of 2197 employees in TCS and there has been a shortage of 500 employees in Wipro.
These two IT companies gave jobs
IT companies in the country have fired people. However, during this time the employees have also been given jobs. IT company Infosys has hired 1,600 people in the third quarter of FY2023, while HCL has given jobs to 2,945 employees. Wipro CEO Thierry Delaporte told TOI that the company is thinking more about hiring a fresher. During this first quarter, the company hired a large number of freshers and now wants to take forward the same culture. If retrenchment is being done then it is due to macro-economic uncertainty.
Fewer recruitments are being done amid retrenchment
IT consultant Parekh Jain has compared the IT sector with the recession between 2008 and 2009. The effect of recession in TCS was more visible in the June quarter of 2009 than in the first quarter of FY 2023. At the same time, HCL had given jobs to 200 employees. Big IT companies were hiring last year and it is continuing in the first two quarters of this year as well.
Why IT companies do not want to recruit
According to Phil First, there is a reluctance among IT companies not to hire new employees at elevated pay points in a slowing economy. In such a situation, there may be a decline in the number of jobs given to employees in the coming quarter.
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