Indian IT services companies, Tata Consultancy Services (TCS), Infosys, Wipro, and HCLTech, reported their Q1 FY 2023-24.
In total Tata Consultancy Services (TCS), Infosys, Wipro, and HCLTech have reduced the net employee addition by nearly 18000.
HCL
HCLTech attrition rate for the quarter remained at 16.3% from 19.5 % in the preceding March quarter of fiscal 2022-23. The company has 223,438 people across 60 countries.
The total workforce as on 31 March 2023 stood at 225,944. The company’s headcount on a net basis has declined by 2,506 employees.
Wipro
Wipro also reported that the employee count has gone down by 8,812 individuals in the June quarter. The total employee count at Wipro experienced a decline, reaching 249,758 by the end of the first quarter, in comparison to 258,570 at the end of the previous fiscal year, FY23.
TCS
TCS reported an attrition rate for this quarter of 17.8% with a workforce strength of 615,318. The company’s net headcount addition of 523 and the contribution of women in the workforce is 35.8%.
The company’s headcount as of March 31, 2023, stood at 6,14,795. In the previous quarter, TCS in Q3FY23 posted a decline of 2,197 people in its employee base, and TCS headcount stood at 613,974 as on December 31, 2022.
Infosys
Infosys headcount shrinks by 6,940 in Q1FY24. The attrition rate at Infosys has improved by over 300 bps and stands at 17.3 percent. Moreover, the net employee headcount has seen a marginal decline.
| Jun 30, 2023 | Mar 31, 2023 | Jun 30, 2022 | |
| Total employees | 3,36,294 | 3,43,234 | 3,35,186 |
| S/W professionals | 3,17,611 | 3,24,816 | 3,18,447 |
| Sales & Support | 18,683 | 18,418 | 16,739 |
| Voluntary Attrition % (LTM – IT Services) | 17.3% | 20.9% | 28.4% |
| % of Women Employees | 39.5% | 39.4% | 39.3% |
The total employee headcount for Q1 FY24 stood at 3,36,294, while the employee headcount for Q4 FY 23 stood at 3,43,234.