In the fiscal year 2024, India's top IT companies faced a substantial reduction in their workforce, shedding over 72,000 jobs, except for HCLTech, which added employees. Factors like economic slowdown, automation, and decreased spending contributed to this decline, reflecting the aftermath of excessive hiring during the Covid boom. Despite this, experts believe the trend may be reversing, fueled by strong deal wins, hinting at a potential resurgence in hiring and gradual growth.