Facebook Google Apple Microsoft Netflix hiring in India dropped by 90 percent in 2023
Facebook, Apple, Amazon, Microsoft, Netflix and Google (FAAMNG) have reduced hiring in India by up to 90 percent. There is no hiring from India in FAAMNG companies. According to ET report, there has been a 90% decrease in hiring from India in these companies this year as compared to 2022. The report says that the number of active hiring in companies is only 200. This figure is 98% less than the previous active hiring. This pause in recruitment comes at a time when tech companies are grappling with the global economic recession.
In fact, this reduction in hiring had started in December last year itself. When active demand in tech companies had fallen by 78 percent compared to July. This means that there has been a brake on hiring in big tech companies for almost 18 months. The report says that currently there are only 30 thousand openings in all these big tech companies across the world. Whereas companies have also made layoffs in large numbers. This round of layoffs started from the end of last year in which big tech companies like Microsoft, Amazon, Google started laying off a large number of people.
Currently, only 1,50,000 people from India work in the core operations of Facebook, Apple, Amazon, Microsoft, Netflix and Google. Recently Paytm has announced layoffs in the new year. According to the report, Paytm is reorganizing all its businesses. It has announced layoffs to reduce costs. People have been evacuated from all the units of Paytm. This is said to be 10 percent of the total workforce of the company. This layoff is being considered as one of the biggest layoffs of the year 2023, which has been seen in any fintech company.
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