575 small firms hiring employees laid off by tech giants: Report

India third in global tech-hiring geographies; USA and European Union lead

Some 575 smaller technology companies worldwide are hiring for various job roles dropped during downsizing by industry giants, said a report on Monday.

Last year, more than 1000 firms around the world laid off over 154,000 workers. The trend continued in January 2023, when some 220 companies reportedly sacked more than 68,000 tech workers. Recruitment agencies have reported hiring by IT services companies is down 70 per cent year-on-year.

The job crunch has prompted companies that can’t compete with big tech to target laid-off tech workers, said the report by pre-hire skill assessment provider Xobin. The report is based on