A French multinational information technology (IT) services and consulting, Capgemini has announced that it will be slowing down on hiring going forward due to slow growth.
Capgemini Group reported consolidated revenues of €5,553 million in Q3 2022, up +22.0% year-on-year at current exchange rates and +15.7% at constant exchange rates. Capgemini follows the calendar year.
The company has reported its attrition in Q3 was at 26.8 percent, down from 27 percent last quarter and 26.2 percent in Q1.
Aiman Ezzat, Chief Executive Officer of the Capgemini Group, commented, “We continue to see double-digit growth across geographies and business lines, and to gain market share in digital transformation.”
“We are reaping the benefits of our strategy and market positioning, with our unique capabilities from consulting to technology and engineering combined with relevant industry expertise. As a strategic business and technology partner, we bring industry-specific solutions that create concrete business outcomes across the whole value chain of our clients organization.”, Aiman Ezzat added.
Aiman Ezzat further added, “We continue to invest in the high-demand areas of cloud, data and AI, Intelligent industry and cybersecurity, where Capgemini is recognized as a leader by many industry analysts. We are accelerating our investments in the ‘what’s next’ with a focus on sustainability, quantum computing, and metaverse.”
Capgemini has a significant number of employees in India. The company has over lakh-and-a-half employees in the country however the company doesn’t disclose a geographical breakdown of its employees each quarter.
The company’s net addition for the September quarter was 6,300 employees, down from 11,400 the previous quarter. Capgemini’s total headcount was 3,58,400 as of September 2022, up 16% year-on-year, with a 19% increase in employees in offshore centres to 210,600, 59% of the total headcount.
HCL added 8,359 employees during the quarter. As of September 30, 2022, HCLTech’s total headcount is 219,325 from 208,877 as of March 2022 quarter. The company’s attrition remained stable at 23.8%.
Wipro added 605 new employees. As of September 30, 2022, Wipro’s headcount in IT services increased to 259,179 from 258,574 at the end of June. The company has reported an Attrition Rate of 23%, moderating slightly from 23.3% in the previous quarter.
TCS added 9,840 employees in the September quarter and the total headcount stood at 6,16,171. TCS hired 20,000 freshers in Q2, an increase of 33% over the previous quarter. However, freshers hiring have slowed down. TCS hired 35,000 freshers in Q1FY23 which is down from 43,000 in Q1FY22.