<ul><li>Due to global economic slowdown and recession fears, the Indian IT sector is significantly reducing new hiring.</li><li>The Naukri Jobspeak Index highlights a substantial 46% decrease in software and software services hiring in July 2023 compared to the same month in the previous year.</li><li>Leading IT companies like TCS, Wipro, and HCL Tech have reported their lowest net additions of employees in five fiscal years.</li><li>The industry is adopting a cautious approach due to predicted US recession and global economic uncertainty, resulting in reduced pay raises and job security concerns for employees.</li></ul>

Indian IT sector slams brakes on hiring amid global economic slowdown, recession fears

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