NEW DELHI: Even as some big global IT companies have freezed hiring, experts believe the Indian IT industry will continue recruiting resources. Facebook, Netflix and Twitter are some of the big global tech companies that have announced a hiring freeze. Indian tech majors like Wipro and Flipkart have confirmed to TNIE that they will continue to hire for roles across levels.
“The pandemic has accelerated digital transformation and there is an increased demand for talent. We are ramping up our hiring and have onboarded double the time of freshers in FY22 vs FY21. We plan to hire 30,000 freshers in FY23, which will be more than double the number we hired in FY22,” Wipro said.
A Flipkart spokesperson also added that the firm will continue hiring as per needs, including hiring from campuses. Yeshab Giri, chief commercial officer, Staffing, Randstad India, says hiring freezes in technology companies are reflective of the business challenges some of them are facing. “This is also a result of higher cost of borrowing and plummeting share prices of some of these companies.”
As for start-up layoffs in India, experts say it is specific to some companies, particularly in ed-tech as they received funds influenced by pandemic-induced shifts, but are now resorting to cost-cutting for the post-pandemic era, to sustain. Global companies that hire for tech roles in India like Twitter, Uber and AWS, however, declined to comment on it.
Niraj Agarwal, director, strategy & operations at Turing, says, “Over time, we have seen an increasing response from the firms in Silicon Valley willing to hire from talent pool in India. Keeping this in mind, we do not anticipate the current hiring freeze situation to last long.” Given current demand momentum and India’s position as a global digital hub, the Indian IT industry continues to hire resources with digital skills to fuel imminent tech transformations, according to Vijay Sivaram, CEO, Quess IT Staffing.
“I don't believe that the IT industry will freeze hiring, as companies continue to ramp-up their talent pipelines and expand skilling programs,” Sivaram said.
Raj Das the Global Co-founder and CEO of Hirect India said there are certain tech roles like Software developers, data scientists, and engineers which will always be in demand. “The current tech slowdown does not necessarily mean a broader hiring slowdown is on the way.”