The biggest tech companies such as Google (Alphabet), Facebook (Meta), Apple, Microsoft, Amazon, and Netflix have a lowest hiring rate in India at a time when these firms have announced mass layoffs on a global scale.
According to specialist staffing firm Xpheno, the collective job postings in India by all six Big Tech companies is currently at just 2,000 openings, down by 95%.
Amid layoffs, hiring by the biggest tech firms is at its lowest, and involuntary attrition is likely to rise further, said Kamal Karanth, cofounder at Xpheno. The American tech majors have been slowing recruitment for months. The active job openings decreased from 9,000 in the July-August period to 4,000 in mid-October, the Xpheno report, shared with Economic Times, added. New job listings in November were down by 80% compared to July this year.
The staffing solutions firm has closely assessed the job postings by these companies on external as well as internal platforms. Active hiring across FAANMG— an acronym for Facebook, Apple, Amazon, Netflix, Microsoft & Google—has reduced from ‘low’ to ‘nearly none’, it added.
Job postings by FAANMG declined by 70% in the previous quarter itself, and further by 95% compared to peak active job postings.
“The current hiring action is nearly a total pause amidst the macro-eco-nomic developments,” Karanth added.
Out of the top tech companies, Twitter, Meta, Netflix have collectively announced planned layoffs of 15,150 workers. On the other hand, companies such as Tesla, Google, and Microsoft are also expected to announce job cuts.
Various IT firms have suspended hiring amid decreased enterprise and retail tech spending by clients.
