Major Indian IT companies are witnessing a slowdown in freshers hiring, with experts anticipating an all-time low in the second half of fiscal year 2024 due to current macro uncertainties. Client spending cutbacks and a focus on utilizing existing bench strength contribute to the decline. Infosys and Wipro have decided to honor existing offers but have not set new campus hiring targets. The IT sector’s headcount is projected to be below 6.8 million, compared to the 6.6 million closure in March 2023. The industry has experienced a 25-30% drop in demand for entry-level positions, attributed to advancements in automation, AI, and machine learning.
IT Hiring Sees Decline in FY24, 30% Drop in Entry-Level Jobs
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