The top four IT service providers, Infosys, Wipro, TCS, and HCL all together have on-boarded over 1,05,000 freshers in 2022.
The IT majors are expected to hire a total of 1.57 lakh freshers by end of this fiscal. The company’s attrition rate has also decreased marginally.
Nilanjan Roy, Chief Financial Officer, Infosys said, “We have already hired 40,000 freshers out of our plan of hiring 50,000 freshers for the year and the number could go up.”
“No delay in onboarding freshers. We have opened our Mysore campus. We are on track on onboarding freshers”, Nilanjan Roy added.
Chief Financial Officer Nilanjan Roy said, “In FY22, Infosys had hired 85,000 freshers, with its hiring up 2.2x in two years. For FY23, Infosys had said it would be hiring over 50,000 freshers.”
“In the first half of this FY, the company has hired 40,000 freshers and the full-year target of 50,000 may go up”, Nilanjan Roy added.
By March 2023, HCL Tech is expected to hire over 30,000 freshers. The company has already added 16000 freshers in the first half of this year.
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. The company has also revised its fresher hiring guidance from 40,000 to 47,000 for this fiscal.
Wipro, on the other hand, has set a target of 30,000 hires for this financial year. Of these, 14,000 have been hired and successfully onboarded.
However, last year over 2.3 lakh freshers were recruited, this year the hiring is set to see a drop of over 30%.
Earlier, it was also reported that the IT majors Wipro, Infosys, and Tech Mahindra have also revoked the offer letters issued to many freshers candidates.
Students have received a letter stating that their employment letter is being revoked. The Tech companies have been revoked on grounds of failing certain eligibility criteria and company guidelines.
According to Harpreet Singh Saluja, President of NITES, an IT employees association, nearly 30,000 IT professionals have been impacted by the delay in onboarding at top IT firms like Infosys, Wipro, Tech Mahindra, Capgemini, and others.
The Nascent Information Technology Employees Senate (NITES) sought the prompt intervention of Minister of State for Labour and Employment Bhupendra Yadav to take necessary action against Wipro which has been postponing the joining date of its more than 2000 students/employees, despite their compliance with its assessment guidelines.
However, announcing the Q2FY23 financial results most IT companies have assured that they will honor all the offer letters and onboarding is in process.