IT Sector Jobs: The impact of the global economic recession is visible the most on the IT sector in India. This is clearly visible in the first quarter results of top-4 IT companies…
Companies have started announcing quarterly results for the first quarter of the current financial year i.e. April-June 2023. As usual IT sector has started it and results of all four top IT companies have been released. The quarterly results of these four companies show that the number of employees in the IT sector has decreased during the first quarter.
Reduced staff of IT companies
During the quarter under review, the total number of employees of the four top IT companies ie TCS, Infosys, Wipro and HCL Tech decreased by 17,335. Earlier, during the first quarter of the last financial year, the total number of employees of the four top IT companies had increased by 52,842.
Such a huge decline in Infosys
The number of employees of Infosys, the country’s second largest IT company, declined by 6,940 in the June quarter. In this way, the total number of employees of Infosys has now come down to 3,36,294. Earlier, in the March quarter also, the number of employees of Infosys was reduced by 3,611. Infosys has got some relief on the attrition front. In the March quarter, the attrition rate ie the rate of employees leaving the job on their own was 20.9 per cent in Infosys, which came down to 17.3 per cent in the June quarter.
Better position than others in TCS
TCS, the country’s largest IT company, has registered success in increasing the number of employees during this period. TCS’ employee strength increased by 523 in the June quarter from 821 in the March quarter. TCS may have increased the number of employees in contrast to the trade of the industry, but it clearly shows that hiring in IT companies has slowed down. At present, the total number of employees of TCS is 6,15,318. The attrition rate in TCS was 20.1 per cent during the March quarter, which came down to 17.8 per cent in the June quarter.
Wipro and HCL Tech also decreased
The number of employees of Wipro has declined by 8,812 and now this figure has come down to 2,49,758. In the case of Wipro, the attrition rate has come down from 19.4 per cent to 17.3 per cent, which is the lowest in the last 8 quarters. On the other hand, the number of employees in HCL Tech has reduced by 2,506 to 2,23,438. The attrition rate in this company has come down from 19.5 per cent to 16.3 per cent.
Huge drop in hiring
Talking about hiring, except one TCS, no other top Indian IT company has spoken correctly. TCS has talked about making 40,000 new recruitments in the coming months, but it has not given any time for this. At the same time, Infosys says that it will consider hiring after evaluating the need. Wipro and HCL Tech have not said anything clearly about this.
