IT sector hiring down 43% in Oct; recovery likely in Jan-March: Study

Ukraine war, funding cuts for start-ups, companies tightening spending among reasons for hiring decline

Uncertainty about the global economy and the Ukraine war dragged down hiring in the information technology (IT) and business process management (BPM) sectors by 43 per cent in October compared to the average in January to September 2022, said a report on Friday.

Hiring for senior management was down 68 per cent in October compared to the same period, said CIEL HR Services, a mid-management recruitment firm. Data showed hiring is expected to pick up in the January-March quarter of 2023.

Overall hiring in October declined 4 per cent compared to September this year and for senior management roles it