In November last year, when Twitter fired thousands of employees without any prior notice, the world was shocked as well as shocked. However, they had no idea that soon, many companies would undertake massive layoffs, leaving millions of families across the world without a means of livelihood. After all, layoffs never affect just one person, the whole family is affected.
So when tech companies like Google, Microsoft, Amazon, Meta, IBM and others started laying off employees left, right and center, people got worried. And with time the situation was getting worse. Millions of people have turned to job-search platforms like LinkedIn and Naukri in search of the next best opportunity. As a result, the tech job market has become highly competitive and finding a job has become a task.
Improving tech job market?
However, according to a recent report by IANS originally attributed to FoundIt (earlier Monster India & APAC), the tech job market landscape is slowly improving. Hiring activity in this sector has seen an increase of 2 percent in the last month. Although it is not a huge number, it definitely makes a difference and gives us hope.
As per the report, other sectors such as healthcare, BPO, production and manufacturing and logistics also saw an increase in recruitment activity. Healthcare saw a growth of 11 percent while the BPO sector saw a 7 percent increase in hiring. On the other hand, production and manufacturing and logistics grew by 5 percent and 9 percent, respectively.
FoundIt CEO Shekhar Garisa said, “Jobs are back in sectors such as healthcare, manufacturing and even IT, and we expect hiring intent to improve in the coming quarter as companies focus on their talent requirements. Thinking again. As seen during any global downturn, India Inc has displayed cautious placement sentiments, but is bound to bounce back over time.”