As reported by Reuters, the Indian IT sector, representing 8% of the country’s GDP, is witnessing an unprecedented slowdown in hiring amid global demand uncertainties, affecting millions of job seekers and leading companies like Tata Consultancy Services and Infosys.
The latter added only 22,600 people last year, and staffing firm NLB Services predicts a 20-25% drop in IT employee additions in H1 of the current financial year, a trend that the recruitment industry must navigate and adapt to.
