Tech Hiring Surge: Developers Back in Demand As IT Firms Rebound From Layoffs, Expected To Increase 8.5% in FY25
Tech companies are reversing layoffs and hiring developers again due to growing demand. Indian IT hiring is projected to rise by 8.5% in FY25, creating roles for software engineers, developers, and data engineers.
New Delhi, October 8: Most tech companies are reportedly hiring developers again, offering jobs after a series of layoffs over the past year. The tech industry, which saw significant job cuts due to economic uncertainty and reduced demand, is now reversing the trend. Many IT firms are expected to boost their hiring in the coming months. Additionally, Indian IT firms may increase their hiring by 8.5 per cent in FY25.
As per a report of AIM, Developers are finally getting their jobs back after layoffs that affected many in the tech industry. Multiple report highlights that these job cuts have left many skilled employees searching for new roles. Reports indicate that companies are now recruiting developers. According to reports, tech companies are coming back, with many recruiters reaching out to developers for interviews. It comes after a long period of concern about AI taking over developer jobs. Google DeepMind’s Research Director Dumitru Erhan Says ‘We’re Hiring’ to OpenAI Fine-Tuning Executive Over AGI Delay Post on X.
Even companies that had laid off developers last year, citing AI as a reason, have realised their mistakes and are now bringing back developers for those positions. This includes major companies like Apple, Microsoft, Tesla, Amazon, Google, Meta, and NVIDIA, some of which laid off around 20,000 employees this year. The hiring reportedly began in June when there were about 1,17,000 unique job openings in tech listed on JobsCopilot.ai, and that number has since grown significantly.
According to reports, after a year of predictions and a tough hiring situation in Indian IT, things are finally starting to improve. Indian startups have begun to rehire developers after laying off around 30,000 employees in 2022 and pausing hiring for around 12 to 18 months. Hiring is also expected to rise by 8.5 per cent in fiscal year 2025, continuing till March 2025. There may be around 1,50,000 new jobs available next quarter. Good News for Job Seekers, Seasonal Hiring Soars in Tier 2 and 3 Cities in Addition to Metros Ahead of Festive Season.
Reports indicate that the IT sector is looking to fill positions like software engineer, senior software engineer, application developer, and full-stack developer. There is also a rising demand for software architects, .NET developers, front-end developers, DevOps engineers, and data engineers. The demand in jobs are seen to be driven by the deals that major IT companies are securing and the growing need in the banking, financial services, and insurance (BFSI) sector.
(The above story first appeared on LatestLY on Oct 08, 2024 12:32 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).