<ul><li>Indian IT services companies experienced a workforce reduction in the first quarter of 2023-24, with the big four firms together cutting nearly 18,000 jobs.</li><li>In contrast, Global Capability Centres (GCCs) - technology arms of multinational companies - are expected to lead in hiring this year, with many GCCs expanding and entering India to find talent.</li><li>GCCs are projected to make an incremental addition of 4-5 lakh employees in FY 2023-24, and many global companies are likely to replace onshore contractors with their GCC workforce.</li><li>India's GCC talent pool is over 1.6 million out of a total tech workforce of about 5 million, with 1,580 tech centres of GCCs and this number continues to rise each month.</li></ul>

Amid Infosys, Wipro and HCL's headcount decline, tech arms of MNCs offer jobs galore

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