The global economy is facing tough times as the world grapples with the effects of the ongoing pandemic. With many industries taking a hit, it is no surprise that the tech sector is also feeling the pinch. Two major tech companies, Wipro and Infosys, have recently announced that they will not be hiring any new employees this year due to the economic uncertainty caused by the recession.

Wipro, one of India’s largest IT services companies, announced that they would not be conducting any fresh hiring for the rest of this fiscal year. The company cited the economic uncertainty and the need to focus on reskilling and upskilling their current employees as the reasons behind the decision. They also stated that they would be honoring all job offers that had already been made to candidates.

Infosys, another major player in the Indian tech industry, also announced that they would not be hiring any new employees this year. The company cited the need to focus on adapting to the changing business environment and ensuring the well-being of their existing employees as reasons behind the decision. Infosys also stated that they would be honoring all job offers that had already been made to candidates.

The decision by Wipro and Infosys to halt fresh hiring this year is a stark reminder of the impact that the recession is having on the tech industry. With companies facing uncertain economic conditions and a rapidly changing business landscape, they are being forced to make tough decisions in order to survive.

However, it is not all bad news for job seekers in the tech sector. While some companies may be putting a hold on hiring, others are still actively recruiting new talent. Companies in sectors such as e-commerce, healthcare technology, and remote work solutions are still experiencing growth and are in need of skilled employees.

Additionally, the tech industry is known for its resilience and ability to adapt to changing circumstances. As the economy slowly recovers from the recession, we can expect to see a rebound in tech hiring as companies look to expand and innovate.

In the meantime, job seekers in the tech industry should focus on enhancing their skills and staying up to date with the latest technologies and trends. By taking proactive steps to improve their skill set, they can position themselves as valuable assets to potential employers once hiring picks up again.

Overall, while the news that Wipro and Infosys will not be hiring this year may be disheartening for some job seekers, it is important to remember that the tech industry is still a promising field with many opportunities for growth and development. By staying resilient and proactive, job seekers can navigate through these challenging times and emerge stronger on the other side.

BREAKING: Recession News

LEARN MORE ABOUT: Bank Failures

REVEALED: Best Investment During Inflation

HOW TO INVEST IN GOLD: Gold IRA Investing