Big fish land in tech’s talent pool amid layoff woes

economictimes.indiatimes.com:

Executive search and hiring firms including Transearch, Longhouse Consulting, CIEL HR and GI Group Holdings say that unlike earlier, when it was difficult to even pin down senior Big Tech professionals for job offer conversations, now they're the ones who often make the first move.

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While those on tech functions have it easier than their counterparts, say, in the business side, salaries remain a big challenge with few hiring companies willing to match the huge packages many of these professionals currently get.

«Earlier, most senior candidates at Big Tech companies were not interested in considering new job opportunities. Now, we are seeing a lot of inbound queries from the likes of Google, Amazon and Meta. These are people in tech and product roles, who are sitting on packages running into multiple crores. Currently, opportunities are comparatively low, and leaders are ready to take (pay) cuts for the right opportunity and wealth creation via ESOPs,» said Ashish Sanganeria, senior partner at Transearch.



Globally, Big Tech companies including Microsoft, Amazon and Google have cut hundreds of thousands of jobs.

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The downsizing is a consequence of economic uncertainties and an overall pullback after going big and over-hiring during the boom times. And, while the worst of the layoffs may be over, there is still plenty of trepidation among employees.

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