Tech Hiring Rebound Hits Setback With 3 Lakh Less Jobs In FY26

The tech industry's hiring outlook, initially set for a rebound in FY26, is now on the decline. Projections indicate 3 lakh fewer jobs in FY26 due to escalating macroeconomic uncertainties, according to analysts. The tech industry was predicted to see a revenue growth of 5-7%, which would translate to 12 lakh gross hires (including attrition backfill and new business). However, with US tariff wars, recession fears, geopolitical risk tightening the discretionary spends, growth rate would reduce to 3-5%, resulting in 9 lakh gross hires, shows data from UnearthInsight, a market intelligence firm. The IT industry faced a hiring slump in 2023-24 due to a weak demand environment. While signs of recovery were being seen since, geopolitical uncertainties since the new Trump administration have added new challenges, impacting tech spending decisions and delaying growth in the sector.