India to absorb 40% of tech layoff fallout
NEW DELHI, INDIA — Industry experts expect around 30 to 40% of jobs lost due to global tech layoffs will be transferred to outsourcing hubs in India.
The shift, likely to play out over the next few years, could represent a significant portion of the more than 300,000 tech jobs eliminated globally.
Sanjay Shetty, Director-Professional Search and Selection at Randstad India, said the country is the “major gainer” of the global layoffs as numerous companies explore expansion.
“Almost every company that we speak to is looking at expanding its India base,” Shetty added.
This migration of roles aligns with recent growth data from staffing firm Xpheno, which reported a 35% headcount increase within big tech companies in India over the last 12 months. This contrasts with a 12% rise in other global locations.
The growth occurred despite several layoffs announced by multinational tech giants, including Google, Microsoft, Meta, Amazon, and Salesforce.
The movement of roles to India, already housing over 2,700 global capability center (GCC) units, looks set to amplify in the face of economic slowdowns in North America and Europe.
Teamlease Edtech President and Cofounder Neeti Sharma noted that many companies have started upskilling and reskilling their employees to take over roles — in part or entirely — for jobs assigned elsewhere.
Sharma added that companies are looking at adding lateral hires and fresh graduates “to deliver part of the roles that can be delivered remotely.”
