Grim fresher's hiring 2024 Xpheno and Longhouse Consulting are dissecting the disease

As always, very insightful data from Xpheno.

https://www.linkedin.com/posts/mrinalkrant_freshers-hiring-activity-7204015380963495936-nMVt?utm_source=share&utm_medium=member_desktop

ET in Jan 2024 quoted Xpheno while highlighting facts at Indian IT Services over the past 2 years on the hiring freeze, to the levels of 60% down in just 2 years.

80% of the data they sampled came from 0–2 years of experience.
So, certainly the bottom of the pyramid, aka freshmen, got the worst hit!
On the other hand, under pressure from US government, Indian IT services Majors like TCS, Infosys, Wipro, HCL Tech, and LTI have together added 142,000 staff to their US offices. This 1.4L is just 2% of the total IT staff in the US, and their IT hiring in the US is growing by around 2.1% YoY, while Indian IT services firms look at negative growth!
Net-Net, this Freshers glut now in Indian IT services gates has reached an alarming number. Anshuman Das as quoted by the ET recently expressed concern over this glut building at the bottom of the IT services talent pyramid in India.
I personally witnessed the challenge of being on bench by even the IIT D (Anshuman alma mater) dual degree grad, who in last 2 years of his campus hiring, hardly had project billable work for 6 months in this 3.5K sized globally distributed tech and Analytics firm. No wonder, he wrote CAT and joined IIM Bangalore for his MBA.
Campus hires to soon on bench for eternity is also a trend that has built over last 2 years...
Xpheno and LONGHOUSE Consulting must also be reading these trends..

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