Highlights

  • Infosys and TCS witness a decline in headcount
  • Decline in headcount amid macroeconomic headwinds
  • For the Jan to March quarter, Infosys saw a net reduction of 5,423 employees

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Infosys and TCS witness a decline in headcount amid macroeconomic headwinds

TCS reported a fall in its headcount for the 3rd quarter in a row with its total employee base falling to 6,01,546 at the end of FY24

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      Infosys experienced a net reduction of 5,423 employees in the January to March 2024 quarter, bringing its total workforce to 317,240 by the end of the 2023-24 fiscal year.

      This marks the fifth consecutive quarter of declining workforce numbers for the IT services giant, with a total decrease of over 29,000 employees in this period.

      Similarly, Infosys' competitor Tata Consultancy Services or TCS reported a net decrease of 1,759 employees in the same quarter, resulting in a total workforce of 601,546 by the end of the 2023-24 fiscal year, the lowest in the past two years.

      At a time when Infosys had implemented a campus hiring freeze, TCS boasted of being the first one to hire from institutes.

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