India’s big tech recruitment dives 90% in 2023
BANGALORE, INDIA — The big six technology companies in India, collectively called “FAAMNG” — Facebook (Meta), Amazon, Apple, Microsoft, Netflix, and Google (Alphabet) — registered a drastic 90% decline in active job postings in 2023 compared to 2022.
FAAMNG’s active hiring numbers in India plummeted to around 200 open positions, down 98% from their usual hiring volumes. This near-complete freeze in recruitment reflects the tech industry’s challenging economic climate, slowing demand, project delays, and cautious client spending.
According to specialist staffing firm Xpheno, “The low to no hiring action maintained by the cohort over the year will continue to impact tech talent movements, especially in the experienced lateral layers,” said Xpheno Head of Workforce Research Prasadh MS.
He added that this trend serves as a warning sign for smaller tech firms to remain prudent in hiring.
The total number of listed FAAMNG openings globally stands below 30,000, compared to hundreds of thousands of layoffs over the past year at companies like Microsoft, Amazon, and Google. In India, FAAMNG currently employs just under 150,000 people for core operations.
The drop in tech major hiring ripples across the information technology (IT) services ecosystem. Sekhar Garisa, CEO of recruitment platform foundit, said that the IT hiring slowdown in India will continue for the next two to three quarters amid weakened demand and a focus on improving employee utilization.
However, Quess Corp’s latest Apprentice Skill Trends Report revealed that employers are taking in more apprentices — up 250% in 2023 — to help reduce workforce costs, build a talent pool, and enhance staff loyalty and retention.
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