IT Sector Jobs: Data from Layoffs.fyi reveals that in 2022 alone, 1,64,709 employees were laid off by 1058 tech companies, with more than 2 lakh employees globally facing the same fate in 800 tech companies.
The tech giant has seen a massive drop in hiring in the first quarter of the fiscal year 2024. A total of 523 new employees were added to the company during the first quarter of FY24, as against 821 in the previous quarter., Companies News, Times Now
The finance ministry in its report said that growth in new business is seen to be behind job creation, particularly in the manufacturing sub-sectors of electronics, auto and auto ancillary and chemicals and the service sector of insurance, hospitality and banking.