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AI Triggers 70% Collapse in Fresh Graduate Hiring at India's IT Giants That Employ 5.4 Million
India's IT services industry saw entry-level hiring collapse by 70% between fiscal years 2023 and 2024, as the country's four largest IT exporters reduced fresh graduate recruitment from 225,000 to 60,000. Tata Consultancy Services and Infosys shed a combined 38,000 employees in fiscal 2024, marking...
India's IT services industry saw entry-level hiring collapse by 70% between fiscal years 2023 and 2024, as the country's four largest IT exporters reduced fresh graduate recruitment from 225,000 to 60,000. Tata Consultancy Services and Infosys shed a combined 38,000 employees in fiscal 2024, marking the sector's first workforce contraction in decades.Studies indicate generative AI could automate 30-40% of junior developer and tester tasks. India adds 8-9 million people to its workforce annually while the IT sector projects just 50,000 net new jobs per year from fiscal 2026-28.
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