Google, Apple, and Facebook likely to cut 90% hiring in India’s IT sector

Big tech companies like Google and Facebook, popularly in high demand by IT sector employees, are predicted to come to a complete hiring halt in India soon. The Economic Times provided this potential employment scenario for these tech titans. 

The data put together for Economic Times by specialist staffing firm Xpheno stated that there has been a steep decline in job postings in India by the Big 6 companies – Facebook (Meta Platforms), Amazon, Apple, Microsoft, Netflix, and Google (Alphabet).

Together, these companies have seen a massive 90 percent decline in active job postings in India for 2023 compared to the previous year. This alarming trend has led to growing speculations of a hiring pause by these big-name companies in India. 

Currently, active hiring by these companies is at a record low, with numbers plummeting by 98 percent in India. This is a particularly sad reality for the tech sector, which is one of the worst affected by the global economic slowdown. Much of their revenue is tightly woven with the performance of the US economy. 

Google took drastic measures last year by laying off 12,000 employees, marking the largest job cut in the company’s history. This move was made in response to the economic downturn. 

In terms of how this pause will affect future job seekers, Prasadh MS, head of workforce research at Xpheno, insightfully noted to ET: 

“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.”

So, when will this hiring freeze warm up? The demand for tech jobs in companies like Google, Netflix, and Meta has decreased by 78 percent in 2023, particularly in India. Due to the current global economy and advancements in AI, this hiring pause may last for the next two quarters. 

At this moment, these big tech players only have 30,000 job openings worldwide, marking a 50 percent drop in hiring. Less than 150,000 people are currently employed for their core operations in India. 

The layoffs are not confined to these tech giants. Indian startups are also bearing the brunt of these difficult economic conditions. According to recent data, Indian startup companies had to let go of 28,000 employees in just one year. 

As we look forward, we are met with the prospect of a two-quarter hiring halt due to global economical and technological conditions. On a global scale: 

• Major tech companies have cut down job openings by over 50%
• Only 30,000 job vacancies are available worldwide
• Less than 150,000 individuals are employed in India for their core operations

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