Returning to pre-pandemic levels of hiring volume and velocity is a sign of a larger correction and calibration underway. However, employee growth has been slowing and, in the third quarter of 2022, returned to pre-pandemic levels.
Nitish Mittal, Partner at Everest Group, believes that the market for IT services will decelerate from 10.4% organic constant currency growth in FY22 to 6.7% in FY23 (March ending).
