Hiring Rate Falls to 78% in FY 23: Due to the slow-paced movement of the Indian economy, many of the top-positioned IT company are paused their hiring process. Some IT companies are also doing layoffs in an unusual way to reduce work heads to minimize their spending cost.
According to the report, the hiring rates of the companies in FY-23 are reduced when compared to FY-22. The report states that TCS hired over 22,000 in FY-23, and the hiring rate in FY-22 is over 1,00,000. This is almost a drop of 78%. Similarly, Infosys hired over 29,000 employees in FY23, whereas the company hired over 54,000 employees in FY22. This is a 46% drop.
In HCL also the hiring rate has dropped to 57% when compared to FY22. This drop-down indicates the interest of IT companies in hiring. The top IT company’s CEO states that the hiring process will be moderated until the next announcement came. This shook the employees. Even more, companies are encouraging recession of perks for their employees, to improve their annual profit.
According to the report, the hiring rates of the companies in FY-23 are reduced when compared to FY-22. The report states that TCS hired over 22,000 in FY-23, and the hiring rate in FY-22 is over 1,00,000. This is almost a drop of 78%. Similarly, Infosys hired over 29,000 employees in FY23, whereas the company hired over 54,000 employees in FY22. This is a 46% drop.
In HCL also the hiring rate has dropped to 57% when compared to FY22. This drop-down indicates the interest of IT companies in hiring. The top IT company’s CEO states that the hiring process will be moderated until the next announcement came. This shook the employees. Even more, companies are encouraging recession of perks for their employees, to improve their annual profit.
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