Amid Big Tech Layoffs, Non-Tech Sectors in India are in High Demand

Amid big tech layoffs, non-tech sectors in India are in high demand with demand for talent and skills

Big Tech companies in India have almost come to a pause whilst they announced global layoffs. The report has revealed that there has been an increase in nontech in India, including healthcare, food services, construction, and education, amid big Tech Layoffs by multinational technology companies.

With demand continuing to outpace supply, skilled workers have no shortage of opportunity. According to the global job site, Indeed's monthly jobs insights, 30.8% of the highest job postings were in healthcare-allied fields such as nursing and dentistry. Food services, construction, architecture, education, and marketing followed. Sectors like marketing, which was one of the earliest to see layoffs during the pandemic and the firm realized the necessity of marketing for enhanced customer experience as well as business and sales leading to the increase in demand. The tech companies have laid off around 70,000 employees, prompting employees to upskill and get updated with the latest technology. 

With big Tech announcing layoffs, employees are in search of a stable career option instead of high-paying jobs. The Global downturn is likely to boost the domestic job market and trained talents are likely to find many takers. Layoffs in the tech sector indicate impending recession. Twitter's massive layoff plans hit the global headlines and media in the US also reported large-scale firing across startups and hiring freezes in big tech companies such as Amazon and Google. Fortune.com reported that, "Amazon announced it would no longer fill certain corporate positions, while Apple said it would stop hiring in most departments. In doing so, they join other mega-cap tech companies including Facebook parent Meta and Google parent Alphabet that have frozen hiring over the past few months."  Tech layoffs are a symptom of the global downturn in the markets playing out in all industries. The drive to cut down on costs typically forces companies to focus on their core operations while cutting down on supporting or supplementary functions through outsourcing. IT professionals in India can take advantage of the potential upsurge in demand by ensuring they are ready with the qualifications, certifications, and skills required to fulfill this upcoming demand. A Report says that they are upskilling to protect their jobs. Recruitment services firms informed about the doubled inflow of resumes from IT employees, especially from Amazon, Google, Meta, and Microsoft. The chief executive at CIEL HR Services told Economic Times, "Employees in the tech industry are choosing stability over insane hikes. Gone are the days of 100 percent pay hikes." Furthermore, hirings were at higher packages. The salary structure changed, for an employee with five years of experience, and 20 lacks per annum were given 50 lacks. The big Tech laid off around 70,000 employees which prompted them to upskill and get updated with the latest technology. The increase in demand for talent in non-sector including healthcare, food services, construction, and education. Nursing and dentistry have the highest number of job postings followed by food services, construction, architecture, marketing, etc. The report noted that the relative resurgence of business normalcy in a post-pandemic world has brought buoyancy back in the construction and civil engineering sectors. The marketing sector was one of the earliest to see layoffs. According to reports, data analytics, data engineering, AI, etc., are in high demand. In addition, employees are also taking multiple courses along with their current job roles. The global layoffs made companies slow down the hiring process. TCS, Wipro, Infosys, and HCL Tech reported the addition of 1,940 employees in December 2022. These IT firms reported an addition of 61,137 employees with these companies competing with each other in hiring to meet the increased demand for digitization due to the pandemic. Sashi Kumar, Indeed's head of sales for India, noted that the fact that several employment categories are growing despite global uncertainty suggests that hiring in India is good. He said that the total number of job listings as of January is 203% more than the pre-pandemic baseline of February 2020. The five big Tech companies are headed to report dismal profits for Oct to Dec including Apple. Amazon is expected to report earnings fell 38% and revenue grew at the slowest pace in more than 22 years. Meta could take a steep 42% plunge in profits. However, these big Tech companies remain huge and profitable.