Jobs in IT: New appointments will start again in the IT sector. More than 40,000 new youth will be given jobs in the next six months. By the way, this is less than last year. According to Mint report, as demand for IT services increases globally, jobs will also increase. These appointments will be made with some changes.
It is noteworthy that the last few quarters were disappointing regarding new recruitments in the IT sector. The headcount of the top five Indian IT companies by revenue is set to reduce by around 65,000 in 2023. According to Naukri.com, the number of new jobs in this sector in December 2023 decreased by 21 percent as compared to December 2022 and by four percent as compared to September 2023. IT companies did not make new appointments due to low demand for IT services. As demand increases, appointments will also be increased.
Number of new jobs decreased the most in Infosys: According to Mint report, the lowest number of new jobs has been offered by IT sector giant Infosys in the year 2023. 24182 less jobs were given compared to the year 2022. At the same time, 21875 less recruitments were done in Wipro. Tech Mahindra laid off 10818 less employees. 10669 less recruitments were also done in TCS. Only in HCL Tech, 2486 people were given jobs in the year 2023.
Appointments had increased during the Corona period: During the Corona transition period, there was a competition for appointments in IT companies. Customers were adopting digital technologies at a rapid pace. According to Gartner, global demand for IT services grew by 12.8 percent in the year 2021. When the consulting firm surveyed more than 200 chief financial officers (CFOs) in July 2022, 69 percent planned to increase their spending on digital technology.
Dependence on demand for IT services: New appointments depend on the demand for IT services. Gartner has said in its January report that spending on IT increased by 3.3 percent in the year 2023, which was only 0.3 percent more than the year 2022. Overall IT spending will increase by 6.8 percent in the year 2024. Compared to the 5.8 percent growth recorded in the IT sector in the year 2023, a growth of 8.7 percent is expected in the year 2024.
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