Fresher hiring by IT cos may decline in FY24

Mumbai: Hiring of freshers is likely to decline in the current fiscal as major IT companies look to freeze intake of freshers, according to a report.

In its hiring outlook for fresh IT/engineering graduates in the fiscal year 2023-24, TeamLease Digital said that 1.55 lakh freshers are likely to be hired in the IT/Tech sector this fiscal compared to 2.3 lakh freshers in the previous financial year.

With approximately 1.5 million engineering graduates actively seeking IT/Tech roles, muted market sentiments and intensified skills evaluation mechanisms have created a turbulent landscape, it added.

As major IT companies freeze fresher intake, alternate sectors are opening up demand.

Other segments, including Global Capability Centers (GCCs) and non-tech sectors like banking, financial services and insurance (BFSI), communication, media and technology, retail and consumer business, life sciences and healthcare, have expanded entry-level hiring.

This reflects a noteworthy shift in the hiring landscape, as per the report. (PTI)