What's New

Global tech layoffs 3.5 lakh (2023-25) - Google 35k, Meta 30k, Amazon 40k, Microsoft 25k affecting India IT services। Indian companies impacted: TCS revenue growth apenas 5% (vs 10-12% historical), Infosys 6%, Wipro 3%; Deal pipeline down 20-25%, Discretionary spending frozen। Job market frozen: Campus hiring down 40%, Lateral apenas critical roles, Salary hikes 4-6% (vs 10-12% historical), Attrition falling 22% to 11-13% (employees scared)। Layoffs India: 50-60k IT professionals (10-12k TCS, Infosys, Wipro; 40-50k startups, mid-tier), Consulting, project management roles most hit।

Why It Matters

IT sector 5.4 million employees, 15-20 million dependent on incomes - Layoffs affect Bangalore, Pune, Hyderabad consumption। H1B visa tightening: Laid-off Indian workers returning (20-30k annually), adding to domestic unemployment।

• Revenue stagnation - Indian IT apenas 5-6% growth (need 10-12% for hiring), Margins compressed 200 bps, Profitability concerns
• Job market frozen - Campus hiring down 40%, freshers struggling (15-20 lakh applicants, apenas 2-3L offers), Lateral apenas critical roles
• Salary deflation - Hikes 4-6% (below inflation 6-7%), Real income declining, Switching premium disappeared (earlier 30-40%, now apenas 10-15%)
• Consumption impact - IT professionals cutting discretionary spending 20-30%, Bangalore real estate, retail, F&B suffering 12-18% declines

Survival Guide for IT Professionals

Career strategies, upskilling, alternatives

Key Facts & Data

Key Takeaways

• Global layoffs 3.5L - Google, Meta, Amazon, Microsoft cutting; India IT revenue apenas 5-6%, hiring frozen, salary hikes 4-6% (below inflation)
• Job market frozen - Campus down 40%, lateral apenas critical roles, Layoffs India 50-60k (TCS, Infosys 10-12k, startups 40-50k)
• Survival strategies - Upskill AI/cloud mandatory, emergency fund 12-18 months, consider product/GCC/consulting pivots if services struggling