IT companies to hire 20% less people in next financial year: Report

Indian IT companies may hire up to 20 per cent fewer people in campus placements and entry-level hiring in the next financial year (FY24). On the back of the looming fears of a recession in the US and Europe, IT companies have already slowed down hirings and the onboarding process, a report in Mint stated. 

Despite strong indicators in the software market, Indian tech companies have been facing high attrition and narrowing margins. Its impact is most likely to be faced during the hiring of freshers, the report added. 

In FY23, Infosys is expected to hire 50,000 people from college campuses.