Which Indian IT firms are hiring amid layoffs? TCS, Wipro, Infosys, HCL, Tech Mahindra among them

  • As per a report of Naukri Jobspeak, at an overall level, hiring activity rises sequentially by 9% in February 2023, which is slightly higher than the pre-covid growth rate of 7%.
  • The IT sector recorded 10% rise in hiring during February month.

Pooja Sitaram Jaiswar
Updated1 Mar 2023, 11:46 PM IST
Major IT firms TCS, Tech Mahindra, Wipro, Infibeam Avenues, Coforge, and others have hundreds of job openings.
Major IT firms TCS, Tech Mahindra, Wipro, Infibeam Avenues, Coforge, and others have hundreds of job openings.(AFP)

The layoff winter is nerve-racking. How to find a stable job, seems like a hard task in 2023. In just two months of the year, tens of thousands of people are let go by many major tech biggies, unicorns, and startups, while more job cuts are in the offing. But not everything is as gloomier as it seems. There are still many Indian companies who are hiring in the current mass layoff scenario, and you have guessed it right -- the IT sector is leading in terms of job offers.

Major IT firms TCS, Infosys, HCL Tech Tech Mahindra, Wipro, LTIMindtree, Coforge, and others have hundreds and thousands of job openings.

As per a report of Naukri Jobspeak, at an overall level, hiring activity rises sequentially by 9% in February 2023, which is slightly higher than the pre-covid growth rate of 7%.

Pawan Goyal, Chief Business Officer at Naukri.com said, "the IT sector, which had been experiencing negative trends in the past three months, showed a sequential growth of 10% in this month's JobSpeak. This growth is an indicator of changing hiring sentiments within the IT space.”

On Naukri.com, if you look at the page, "Top companies hiring now", you will find as of March 1st, 2023, 660 companies are offering jobs in IT services and consulting, while there are 80 companies in financial services, 26 firms in insurance, 90 firms in fintech or payments, 24 firms in banking, 16 firms in NBFC. After the IT sector, e-learning or ed-techs are offering more jobs with about 151 companies.

In the tech sector, on Naukri.com, Wipro currently has 453 job vacancies --- of which --- 183 openings are in customer success, services & operations; 79 vacancies in engineering - software, while 39 openings in IT & information security; 38 openings in finance & account, and 26 jobs in others category.

At Infosys, there is a whopping 1,557 job openings. Of the total, the major vacancies are in the engineering - software & QA category, while 371 vacancies are in consulting, and 144 vacancies in project & program management. Remaining vacancies are in engineering - hardware & networks and IT & information security.

Peer HCL Tech also has 472 openings with the majority vacancies in engineering - software & QA and IT & information security.

Indian IT giant Tata Consultancy Services (TCS) has about 431 openings --- which majority of vacancies are in engineering & software and IT & information security currently. Tech Mahindra also has 221 vacancies currently --- with the majority in customer success, service & operations categories.

Meanwhile, LTIMindtree formerly known as Mindtree has 534 job vacancies at the moment. From the total, 350 vacancies are in engineering - software; 44 vacancies in IT & information security; 37 vacancies in consulting; 30 openings in engineering - hardware & networks; and remaining in others.

Some 262 job openings are at Coforge Ltd with most of the hiring in engineering - software & QA, and data science & analytics.

Also, Cyient has 587 job openings, while Newgen has 168 job openings, Tata Elxis with 89 jobs, and Persistent Systems with 18 jobs currently. Even Sonata Software and Indian stock exchange-backed NSEIT are offering 62 and 66 jobs.

These are some of the few Indian IT firms that have hundreds of job openings for individuals. You can look into more companies as per your choice at Naukri.

Overall, as per trueup.io data, so far in 2023, up to March 1st, there have been 551 layoffs at tech companies with 155,110 people impacted --- which would come to 2,585 people per day. In 2022, there were 1,535 layoffs at tech companies with 241,176 people impacted.

The layoffs have slowed down since mid-February month.

The reason behind layoffs could be macroeconomic risks and recession fears. Also, the shift towards artificial intelligence such as chatbots is likely to have played a role in job cuts.

But Indian IT companies are likely to continue offering more jobs.

Aditya Malik, Founder of ValueMatrix.ai and a mentor with the Nasscom DeepTech Club said, "The market dynamics and expectations of the economy are changing rapidly. The world is starting to see India as a product and innovation hub and no longer as a backend service ecosystem."

Given the layoffs happening, Malik said, "it is allowing movement for people to take risks and build something great out of India. As we see India is amongst the top three in the startup space, opening doors for further advancements in the technology sector."

Further, he added that the economic slowdown worldwide will promote India to be on the receiving end for great product innovation and development. Skilled people will fairly be absorbed as we see a paradigm shift in the definition of the word skilled after ChatGPT came in.

Malik said, "as stated by TCS last week, IT firms and technology space in India will continue to hire more talented forces opening more avenues for skilled employees."

It's not just the IT sector who have witnessed a rise in hiring during February. As per the Naukri Jobspeak report, the telecom sector has seen the highest upside among others by 16% in hiring during February followed by real estate and auto & auto ancillary recorded a 13% rise each in hiring. Travel and hospitality, and healthcare sector posted a 10% increase in hiring as well.

Wipro Chairman Rishad Premji said his perception towards hiring changed after a conversation with one of his board members.

During the Business Today's Aabha Bakaya at Nasscom Technology & Leadership Forum 2023 on Wednesday, Premji said, whenever he hires a candidate, he tries to look for a commonality, something familiar if he can bond with the person post-work over a drink. But the board member told him he was doing it wrong.

Premji said, this board member told him to be looking for a candidate that can challenge his ideas, bring in new perspectives. Premji said, and that's how "we have made Wipro diverse now."

Maybe this could be a great tip for job seekers too who are looking to work in the IT sector.

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First Published:1 Mar 2023, 11:46 PM IST
HomeNewsIndiaWhich Indian IT firms are hiring amid layoffs? TCS, Wipro, Infosys, HCL, Tech Mahindra among them

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