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The big tech pack of ‘FAAMNG’ companies in India, including Facebook (Meta Platforms), Amazon, Apple, Microsoft, Netflix, and Google, are experiencing a hiring pause due to macroeconomic headwinds and global job cuts. According to a report, these companies have seen a 90% drop in active job postings in India compared to the previous year. The tech industry is facing project ramp-downs and sluggish revenue growth. The hiring pause is impacting experienced lateral layers and smaller companies are advised to be cautious. The total number of active job openings globally for these companies is currently under 30,000. However, there is hope that hiring will slowly start picking up in 2024 as the sector improves.
