60,000 contract workers lost jobs in IT in FY23, flexi jobs contracts 7.7%

Nearly 60,000 outsourced contract workers lost jobs in India’s information technology sector in the year ending in March as jobs for flexi workers hired through contractors by companies shrank 7.7% from a year earlier, a recruitment body said on Tuesday.

“The drop in new employment generation within the IT flexi staffing sector mirrored the global slowdown in IT hiring,” said Lohit Bhatia, president of the Indian Staffing Federation, representing over 120 recruitment agencies across the country.

However, the hiring in the manufacturing, logistics, and retail sectors remained strong, helped by domestic consumer demand, he said.