The abbreviation FAANG stands for Facebook, Amazon, Apple, Netflix, and Alphabet (the G stands for Alphabet's primary business, Google). FAANG Companies Hiring Status gradually drops according to a report by staffing agency Xpheno, there are now fewer than 2000 open positions with FAANG firms (as well as Microsoft) in India; FAANG hiring drops.
According to data gathered by Xpheno, the FAANG companies had 4,000 active job openings in mid-October and 9,000 in August 2022. The Big Tech players and their affiliates collectively have fewer than 35,000 active posted openings at this time in the world.
Xpheno has monitored FAANG's active job posts for the past five months on both internal and external sites. According to the employment agency, there is "minimal" to "virtually nil" hiring activity at these companies. According to data from layoffs, 964 tech businesses have let go of more than 1.4 lakh workers globally. Among the well-known companies, Twitter has sacked 3,700 workers, Meta 11,000, Amazon 10,000, and Netflix roughly 450 thus far in 2022. Microsoft, Google, and Intel all disclosed layoffs.
When compared to the usual active hiring volume from this cohort in India, the present active numbers are about 95% lower. Closing numbers were already down more than 70% a quarter ago, and they are now down more than 95%. In light of recent macroeconomic changes, hiring activity is currently at halt, according to the report.
Most tech companies have declared a hiring moratorium in addition to layoffs. While Apple plans to slow hiring in 2023, Bloomberg reported in June that Microsoft, Amazon, and Meta have already declared employment curbs. According to Xpheno, the causes influencing the drop in tech spending range from the generally depressing state of the global economy to the impending possibility of a global recession.
Conclusion: In contrast, there hasn't been much activity in the hiring and onboarding processes for leadership positions, product marketing, digital media, video production, and program & product management, among other positions.
