Google, Amazon, Apple, and Others Reportedly Pause Hiring in India 2023 Amid 'Economic Slowdown' and 'Internal Restructuring Plans': Report
Amid economic slowdown and internal restructuring, the tech giants like Apple, Google, Amazon, and others have reportedly paused hiring in 2023. As per the report, the next two quarters will likely see the same slow hiring in the tech sector.
Mumbai, December 29: In 2023, many tech giants have, through multiple rounds of layoffs, cut thousands of employees from various departments. The top names in the list are Amazon and Google, among others like Apple and Meta, with limited job postings. The reasons for layoffs were almost similar, like economic slowdown, adoption of AI for automation and business restructuring. The tech giants like Apple, Google, Meta, and Amazon have reportedly "paused" hiring in India.
As per the report by India Today, at the beginning of 2023, the tech industry witnessed mass layoffs, raising concerns about job security. The report mentioned that companies like Facebook, Amazon, Netflix, Apple, and Google-parent Alphabet sacked thousands of employees globally. The tech giant also laid off employees from its Indian offices this year. AI at Workplace: 59% of Indian Employees Confident to Embrace Artificial Intelligence Tools at Workplace, More To Accept in 2024, Says Report.
The year is about to end, and amid the fear of AI taking over jobs, the tech sector reportedly shows "no sign of stopping." The India Today report mentioned the top 5 points as significant concerns about the tech giants' pause on hiring and tech layoffs in 2023. The report said that the tech leaders shut down the hiring process following the "global economic downturn", leading to a drastic decline in job postings. The report said these tech companies have 200 job openings in India, a 98% reduction from the regular hiring volumes. India Cybersecurity Market: Cybersecurity Market in India Reaches USD 6 Billion in 2023. Expected To Achieve 5% Global Market Share by 2028, Says Report.
Due to the global market downturn, tech companies reportedly need to boost their revenues and follow plans of restructuring their business. The report by India Today mentioned that due to the ripple effect in the tech industry, the hiring process of these companies has been affected. As per the report, IT analysts and industry experts predicted that the "cautious approach" by tech giants could be a red flag for small enterprises. The report said that Facebook, Amazon, Apple, Netflix, and Alphabet have reportedly "slammed brakes on the hiring in 2023".
(The above story first appeared on LatestLY on Dec 29, 2023 06:38 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).