IT company jobs: Hiring, headcount fall drastically in Q1FY24

Indian IT service companies have released their quartely earnings report for the first quarter of FY24. Companies including TCS, Wipro, HCL Tech have witnessed a drastic fall in hiring compared to the same quarter last year.

TCS

TCS hired 523 employees in Q1FY24. Meanwhile, the company had hired 14,136 employees in Q2FY23 - which is 28 times more than Q1FY24. The company Chief Human Resource Officer, Milind Lakkad has said that the company plans on leveraging its existing employee strength instead of adding more employees.

Wipro

In Q1FY24 Wipro had hired only 8,812 employees while during the same quarter last year the company added 15,446 employees. The company's Chief HR Sourabh Govil has also noted that the company will hire only for critical roles such as AI, data, security and engineering in the coming quarters.

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Infosys

The number of employees went down by over 7,000 in Q1FY24 with the total headcount standing at 3,36,294 now. Infosys CEO Salil Parikh has mentioned that the company is currently focussing on building AI capabilities in the coming quarters.

HCL Tech

HCLTech’s headcount too went down by 2506 employees in the first quarter of FY24. While, the company had added around 2089 employees in the first quarter of FY23. HCL has also defered the annual salary hikes of some employees.