During the financial year 2023-24, India’s Top 5 IT Firms —TCS, Infosys, Wipro, LTI Mindtree, and HCL Tech—saw a significant reduction in their female workforce.
According to data from staffing firm Xpheno, these companies collectively lost 25,000 female employees. This trend highlights a concerning shift in gender diversity within the top tiers of the Indian IT sector.
The Economic Times reported this data, shows the need for these companies to address potential causes, such as workplace policies, career advancement opportunities, and work-life balance issues, to retain their female talent and maintain diversity in the workforce.
The report also showed that women’s employment by these firms decreased from 540,000 to 515,000 during this period.
The COVID-19 pandemic has significantly impacted the work-life balance of women in the IT sector, especially those with caregiving responsibilities. The demanding nature of IT jobs, characterized by long hours and high stress, has exacerbated these challenges.
Additionally, in some cases, there is insufficient maternity and childcare support, as well as a lack of flexible working arrangements, which can make it difficult for women to continue working in the IT sector.
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Drop in Headcounts in FY24 (All Employees Including Women)
| Total Headcount |  |  |  |  |
| Company | Q1FY24 | Q2FY24 | Q3FY24 | Q4FY24 |
| TCS | 6,15,318 | 6,08,985 | 6,03,305 | 6,01,546 |
| Infosys | 3,36,294 | 3,28,764 | 3,22,663 | 3,17,240 |
| Wipro | 249,758 | 2,44,707 | 2,40,234 | 2,34,054 |
| HCL Tech | 223,438 | 2,21,139 | 2,24,756 | 2,27,481 |
Cognizant total headcount stood at 344,400 during the end of the first quarter, which decreased by 3,300 sequentially from Q4 2023. This headcount decreased by 7,100 from Q1 2023.
On the other hand, Tech Mahindra reported a net employee decline of 795 sequentially for the fourth quarter ended March 31. The total headcount stood at 145,455, marking a 1% decline QoQ and a 4.6% decrease YoY.
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