Tech layoffs: Amid job cuts, PWC to create 30,000 jobs in India in 5 years

The tech sector's layoff wave has overflowed into other industries with banking firms as well as media giants such as CNN and Spotify resorting to job cuts. In these gloomy times, individuals, organisations and major firms such as the Tata-owned Jaguar Land Rover have launched initiative to provide jobs for those laid off. As Indian employees of global tech firms are spooked about further job cuts, professional services firm PWC has promised 30,000 jobs in the country.

The company headquartered in the UK has a workforce of 50,000 in India and is willing to scale it up to 80,000 in the next five years. The move is a part of its global strategy called The New Equation, and aims at increasing PWC's footprint in India, while enhancing client relationships as well as quality of services. As major tech firms are trying to cut costs, PWC opened three new offices in India, in Jaipur, Noida and Bhubaneswar, in the past year.

PWC is also expanding into providing contract compliance, captive advisory and product development, among other services. India is seen as a relatively brighter spot in a market shadowed by the dark clouds of recession and inflation. The professional services firm is eyeing higher demand from industries emerging in the Indian market.