Key Points
New Delhi: Salary offers for information technology professionals have plummeted 30-40%, from about 1 crore per annum they commanded a year ago, owing to global macroeconomic headwinds and IT sector slowdown, said industry executives...
The trend kicked off a few months ago with some of the big tech companies seeking to rationalise their workforce, they said.. Unlock Leadership Excellence with a Range of CXO CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB Chief Technology OfficerVisitIIM LucknowIIML Chief Operations Officer ProgrammeVisitIndian School of BusinessISB Chief Digital OfficerVisit..
Venture capitalists, recruitment services and executive search firms told ET that lower pay packets are becoming the new normal after the pandemic-induced hiring frenzy during 2021-22..
Most of the hiring is currently being done by early-stage startups after series A funding, they said.. "These are mostly CXOs and senior tech talent who have been laid off in the last few months and have worked with large technology organisations as well as startups," said Ratna Gupta, senior partner, ABC Consultants, an executive search and talent advisory firm...
"We are in conversations with candidates who have been laid off and have worked with both big tech companies as well as startups," said Pranshu Upadhyay, regional director, head of India technology practice, Michael Page. "They are ready to take a cut of up to 30%."..
You might be interested in
Big tech companies in India near hiring pause amid global turmoil
24, Dec, 23These companies - Facebook (Meta Platforms), Amazon, Apple, Microsoft, Netflix and Google (Alphabet) -registered a 90% drop in active job postings in India in 2023 compared with the previous year, according to data put together for ET by specialist staffing firm Xpheno.
Great deep tech ventures starting to emerge in India
08, Nov, 23Business News: Qure.ai, an Indian AI company, uses artificial intelligence to quickly scan X-rays and CT scans, providing doctors with immediate results for conditio
Startup recruiters find few takers amid overall hiring slowdown
24, Feb, 24Talent acquisition professionals at inflated salaries have found themselves priced out of the market as opportunities dwindle.
IISc deep tech startups are pushing India into elite league. Baby firms with big ambitions
02, Mar, 24IISc Bengaluru’s deep tech incubator cell is going where few countries have gone before. AI, quantum computing, robotics, biotechnology to provide solutions in healthcare, edtech, space, agriculture, and more.
Facebook, Apple, Google to hit hiring pause? Tech jobs in India record decline
25, Dec, 23A report said that the Big 6 tech firms, including Google and Amazon, are set to hit a hiring pause in India soon.
SaaS founders are grabbing talent amid tech layoffs
16, Aug, 23Candidates are also increasingly choosy about startups they join, asking founders questions about cash runway and growth projections of the companies for quarters ahead.
Niche technologies, smaller IT companies will make a big splash: Romal Shetty, Deloitte India
17, Dec, 23“Any company which has a very unique IP which is not easy to copy. That was one thing common to successful companies. The second one is being technology-enabled even in those days, when tech was not so big. Third is scalability. Companies that followed these three principles, have been fairly successful.”
The AI-ceberg of innovations: Meet AI-first startups shaping India's tech future
14, Jan, 24Over the last 12 months, a new generation of AI-driven companies and generative AI tooling startups have attracted investments, but this represents only a small percentage of the companies driving innovation in this space. Under the surface lies vast, untapped potential for more.
Bengaluru Tech Summit to begin on Wednesday, to host participants from 30 countries
25, Nov, 23The summit, with the theme 'Breaking Boundaries, will have more than 75 sessions, more than 400 speakers, 350 startups, 600 exhibitors, and 20,000 business attendees.
Job cuts in India just a small fraction of global layoffs: Recruitment firms
21, Apr, 23These layoffs (globally) are predominantly in tech services, products firms and funded startups, and even at some consulting, ecommerce and consumer tech enterprises, which are carrying out workforce optimisation and restructuring exercises, said executives at Adecco, Randstad, Xpheno and ManpowerGroup, among others. Most companies had started the layoff exercises in 2022.