The IT major companies including Wipro, TCS, and Infosys headcount decreased by over 16000 in Q3. The only IT company, HCL Tech has seen a positive headcount addition.
Earlier the IT major companies, TCS, Infosys, Wipro, and HCLTech announced their Q2FY24 results showing a headcount reduction of 21177.
Wipro has announced Q3 financial results under International Financial Reporting Standards (IFRS) for the quarter ended December 31, 2023.
Wipro has seen a reduction of 4,470 employees in its headcount for the third quarter of the fiscal year 2024. Total headcount stood at 2,40,234, down from 2,44,707 in the previous quarter (Q2 FY24).
The attrition rate, which stood at 15.5 percent in the previous quarter, stabilized further and reached a 10-quarter low. The Voluntary attrition has continued to moderate QoQ, coming in at a 10-quarter low of 12.3% in Q3FY24.
According to Q3FY24 announcements, Infosys’ headcount crashed by 6,101 in Q3FY24. The Total number of employees in the Q3 ended on Dec 31, 2023, stood at 322,663.
Peer company, TCS headcount dropped by 5,680 employees workforce stood at 603,305 as of December 31 with attrition at 13.3% for the last twelve months. The company’s workforce stood at 608,985 as of September 30, reported a dip of 6333 employees from the last quarter.
As the only IT company, HCL Tech has seen a positive headcount addition. The attrition rate for the quarter moderated further to 12.76% from 14.2% in Q2 FY24 and 21.7% YoY. The company reported a net addition of over 3,600 people, taking its total headcount to over 224,700 across 60 countries.
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