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IT hiring down 40%, expected to rebound post june: Randstad India CEO
The Business Guardian
|February 27, 2024
The current hiring scenario in the information technology (IT) industry reflects a general decline, with an estimated decree se of 3540 percent, Viswanath PS, Managing Director and CEO of talent company Randstad India.
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Viswanath said entrylevel hiring has been particularly affected, experiencing a significant reduction, especially due to a decline in campus hiring. Further, contract staffing has been equally impacted. Projects requiring resources for shorter durations, such as 6-9 months, have seen a slowdown, possibly due to delays or uncertainties in project kick-offs, he said.
On a brighter note, comparing the current state with February 2023, Randstad has observed some improvement. “While we hope for some positive indicators in March, a full recovery is anticipated to be more realistic after June,” said Viswanath.
On the salary front, the Randstad India chief said the tech sector might see the average hike fall by around 9 percent. On the other hand, the non-tech sector is anticipated to give better hikes of over 10 percent, in some cases.
This story is from the February 27, 2024 edition of The Business Guardian.
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