Amid global recession fears, IT firms may go slow on hiring in 2023: Report

The hiring rate for the IT sector is likely to grow by only 10 per cent in 2023, almost half of the 15-20 per cent rise seen this year

Hiring in the information technology (IT) sector in 2023 is likely to grow by only 10 per cent, almost half of the rise seen this year, according to a report in The Financial Express.

 
Fears of an impending global recession have forced the IT sector to go slow on hiring new employees. However, consultants in the human resources industry say that IT companies would go for replacement hiring as the attrition rate is expected to remain high.

“Attrition will continue in the range of 15-20% for IT companies. We may not see expansion hirings but we will clearly see replacement