Key Points
New Delhi: Headcount at the top companies in India's information technology sector fell for the fourth consecutive quarter, as they cut down on recruitment at the entry level and were slow in hiring to offset attrition amid an uncertain demand environment in their biggest markets...
The collective headcount of the top eight IT companies fell 17,534 in the quarter ended December 31 compared with the previous three months, according to data compiled by Xpheno, a specialist staffing firm..
Compared with a year earlier, the staff count at these companies - Tata Consultancy Services, Infosys, Wipro, HCLTech, LTI Mindtree, L&T Technology Services, Tech Mahindra and Cognizant's India business - were down by 75,000, the sharpest fall in at least six years...
The collective headcount of this group of eight companies has now dropped to nearly that in early 2022, Xpheno cofounder Kamal Karanth said..
The net headcount at these companies started falling in the January-March quarter of 2023, when they reduced by 12,455 from the previous three months..
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