The hiring slowdown was always predicted TCS, Infosys, Wipro, and HCLTech announced their Q2FY24 results showing headcount reduction of 21177.
An IT services, consulting, and business solutions organization, Tata Consultancy Services (TCS) workforce stood at 608,985 as of September 30, reported a dip of 6333 employees.
TCS’s employee base continues to be very diverse, with 35.8% women and 152 nationalities. In financial results for Q1FY24 the quarter ending June 30, 2023, TCS LTM IT Services attrition rate this quarter is 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%.
Year to date, TCSers have clocked 26.4 million learning hours and acquired 2.6 million competencies including 350,000 high-demand competencies. IT services’ attrition was at 14.9% for the last twelve months.
India’s second-largest IT service provider, Infosys announced its Q2FY 24 results and reported a net fall of 7,530 employees in its headcount sequentially.
Infosys has 3,28,764 employees on its roll as of September 2023, as per its quarterly results. The company had 3,36,294 employees in the previous quarter.
HCLTech witnessed an attrition rate of 14.2 percent in the second quarter of the current financial year and said while announcing its September quarter financial results that the total people count in the company stood at 2,21,139 in Q2FY24.
The workforce of the IT firm was reduced by 2,299 workers in the quarter under review. The company brought 3,630 freshers on board in the September quarter. Till June 2023, the company’s total headcount was 2,23,438.
Wipro’s headcount has dropped further by 5,015 in the July-September quarter of fiscal 2023-24 (Q2FY24). The total headcount now stands at 2,44,707 employees and the attrition rate has dropped further to 15.5 percent, compared to 17.3 percent in the preceding April-June quarter. The total employee count at Wipro in the previous quarter was experienced 249,758.
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