Cooling hiring frenzy is good news for IT firms
2 years ago

Cooling hiring frenzy is good news for IT firms

Live Mint  

High attrition rates have been a headache on the margin front for Indian information technology services providers. Industrial policy eyes forex pile for finance Cartels may get to settle cases without admitting offence A further sequential moderation would be on the back of a slowdown in hiring trends. In Q2, net employee hiring for IT services companies halved year-on-year to 38,000, which is the lowest in seven quarters, according to Jefferies India. As HDFC Securities Ltd’s analysts said in a report: “Margin pressure has peaked out and expected to improve hereon as attrition and subcontracting are normalising. Amit Chandra, institutional research analyst, IT, HDFC Securities said: “With utilization levels expected to go up and a fall in attrition rates, earnings before interest and tax margin for the sector should rise by 70 basis points in FY24."

Hiring Fy22  frenzy  margin  firms  services  ltds  cooling  good  utilization  hiring  slowdown  sector  attrition  rates  fy22

History of this topic

Good News For Job Seekers! Indian Start-Ups To Ramp Up Hiring By 20-30 Per Cent In 2025: Report
6 days, 18 hours ago

Good News For Job Seekers! Indian Start-Ups To Ramp Up Hiring By 20-30 Per Cent In 2025: Report

ABP News  

Indian start-ups are gearing up to bring in fresh talent as the organisations see an improvement in funding. A report by Moneycontrol showed that staffing firms estimate a 20-30 per cent increase in recruitment among start-ups going into the next year. Data from layoffs.fyi showed that job cuts in the start-up space have significantly declined, decreasing by 46 per cent …

India's top 5 IT firms continue headcount decline for 7th straight quarter
4 months, 3 weeks ago

India's top 5 IT firms continue headcount decline for 7th straight quarter

Business Standard  

TCS led the ranking with total 606,998 employees, while Infosys came in second with 315,332 employees For the seventh consecutive quarter, India’s top five IT services firms have experienced a decline in headcount. The news report quoted Deepti S, business head of technology staff augmentation at staffing company Xpheno saying, “The gradual slowdown of the degrowth with the quantum of …

IT companies’ hiring to see positive traction in second half
4 months, 4 weeks ago

IT companies’ hiring to see positive traction in second half

New Indian Express  

BENGALURU: In the first quarter of this financial year, IT services companies showed signs of recovery in hiring compared to the previous a few quarters. HR experts say hiring in the second half of the calendar year will see positive traction. After three quarters, Tata Consultancy Services added 5,452 employees and onboarded 11,000 trainees in the first quarter. We expect …

More job losses? 10,000 freshers from major IT firms Infosys, Wipro and TCS await onboarding: Report
6 months, 1 week ago

More job losses? 10,000 freshers from major IT firms Infosys, Wipro and TCS await onboarding: Report

Live Mint  

India's major IT sector is causing major onboarding delay issues for freshers. The IT employee union Nascent Information Technology Employees Senate data revealed that at least 10,000 freshers who were offered jobs in the past two years have not yet been onboarded by IT companies, Times of India reported. As per the report, Harpreet Singh Saluja, the President of the …

25,000 Female Employees Exit Top IT Firms On FY24, Reveals New Study
6 months, 2 weeks ago

25,000 Female Employees Exit Top IT Firms On FY24, Reveals New Study

News 18  

A recent study indicates a decline in the female workforce in the country’s top IT companies amid the high attrition rate in the industry. Around 25,000 female employees have exited top IT firms, including TCS and Infosys, in the financial year 2023-24, according to a study by staffing firm Xpheno. The drop in the number of female employees was reported …

Looking for IT jobs? Good news! Here are key reasons why you may be hired
7 months, 4 weeks ago

Looking for IT jobs? Good news! Here are key reasons why you may be hired

Hindustan Times  

IT jobs in India are some of the most sought after for the pay, perks, but most of all the chance to be a part of innovative and exciting new trends in the tech sector. If you are looking for IT jobs, know the key reasons behind the expected surge in fresher hiring. ) And notably, as well as a …

Job growth in IT sector may come back in 2nd half of FY25
8 months ago

Job growth in IT sector may come back in 2nd half of FY25

New Indian Express  

BENGALURU: The IT sector has been witnessing a decline in employee headcount for at least five quarters now, but projections suggest a notable increase in hiring activity, with expectations of an 8-10% rise in recruitment throughout this calendar year. “The overall hiring landscape within the IT industry is forecasted to experience a surge of 12-15% in CY2024, driven primarily by …

Tech hiring: Jobs aplenty? Know what the top IT services companies are eyeing
8 months, 2 weeks ago

Tech hiring: Jobs aplenty? Know what the top IT services companies are eyeing

Hindustan Times  

In some very good news for the information technology sector, it is being reported that top IT services companies are on a hiring drive and that the segment actually recorded its first rise in 20 months. What with slowing attrition rate, the gross hiring by these companies actually dipped 4-6% QoQ, as per an analysis Economic Times got done by …

TCS offers Rs 40,000 incentives for rapid hiring, requires 6-month continuity
9 months, 1 week ago

TCS offers Rs 40,000 incentives for rapid hiring, requires 6-month continuity

India TV News  

Tata Consultancy Services has rolled out the 'Quick Joiner Incentive Plan' under which the company offers candidates an additional Rs 40,000 for senior roles with the concern that they join within a month. Earlier, the company ruled out cutting down on hiring, saying it has no plans of doing so but it may have to pace hiring according to the …

Intent to hire freshers rises 6 per cent in H1 FY24, says Report
10 months, 1 week ago

Intent to hire freshers rises 6 per cent in H1 FY24, says Report

India TV News  

Intent to hire freshers has shown a notable improvement for the first half of 2024, rising by 6 per cent compared to the same period last year, signalling growing confidence among employers in India, according to a report released on Tuesday. The Career Outlook Report HY1 by TeamLease EdTech indicates a 6 per cent increase in freshers' hiring intentions for …

TCS, Infosys, Wipro, HCL Tech: Hiring In IT Sector To Remain Slow For 2-3 Quarters, Says Report
1 year ago

TCS, Infosys, Wipro, HCL Tech: Hiring In IT Sector To Remain Slow For 2-3 Quarters, Says Report

News 18  

IT companies in India, including TCS, Infosys, HCL Tech and Wipro, have hired fewer employees in the past four quarters, due to demand slowdown, reduction in attrition levels and excessive hiring during the pandemic, according to a report by ratings agency ICRA. However, the average last twelve-month attrition for IT companies declined to 14 per cent as of September 2023, …

Indian IT company plans to hire 6,000 professionals amidst tech layoffs, details here
1 year, 5 months ago

Indian IT company plans to hire 6,000 professionals amidst tech layoffs, details here

India Today  

The tech industry is going through a rough time at present with layoffs happening at a rapid place at companies. IT company announces hiring 6,000 people Hexaware Technologies plans on hiring around 6,000 people and has 419 job openings posted on LinkedIn. Techies opting for lower salary, better perks Meanwhile, according to a recent survey by job posting site Blind, …

Indian IT sector to reduce college hiring by 40%, will prioritise last year’s offers first
1 year, 7 months ago

Indian IT sector to reduce college hiring by 40%, will prioritise last year’s offers first

Firstpost  

Currently, the job market for the Indian IT industry is extremely competitive due to companies increasingly laying off employees as a cost-cutting measure. In light of this situation, an analysis conducted by recruitment firm TeamLease Digital has revealed that most Indian IT companies are planning to hire 40 per cent fewer freshers during the financial year 2023-2024. The report also …

IT firms may see a sharp decline in attrition rate
1 year, 8 months ago

IT firms may see a sharp decline in attrition rate

Live Mint  

India’s software services companies are expected to see a sharp drop in attrition rates in the coming quarters, from the current 20%-plus to as low as 16%, as the impact of hiring freezes and retrenchments takes effect. This slowdown of hiring started from November 2020 onwards and will continue to till September 2023,” said Saran Balasundaram, founder of HanDigital, a …

TCS attrition continues to lower at 20.1%, net addition of 821 employees in Q4
1 year, 8 months ago

TCS attrition continues to lower at 20.1%, net addition of 821 employees in Q4

Live Mint  

IT bellwether Tata Consultancy Services has made a net addition of 821 in its employees' headcount for the quarter ended March 2023 period. This would be a net reduction of 2,197 employees compared to a headcount of 616,171 employees in the September 2022 quarter. During the September 2022 quarter, TCS made the second highest hiring among its peers after Infosys …

Bad news awaiting tech grads entering the job market
1 year, 10 months ago

Bad news awaiting tech grads entering the job market

Live Mint  

NEW DELHI : Technology companies are likely to hire engineering graduates at the previous year’s levels of ₹2-4 lakh per annum, industry experts said, adding they expect no increase in freshers’ pay this year as hiring winds down after a year of aggressive recruitment. We expect large IT services firms to offer salaries of ₹3.18-4 lakh for entry-level campus hires," …

Watch | Business Matters: Will global layoffs jolt India’s IT industry?
1 year, 10 months ago

Watch | Business Matters: Will global layoffs jolt India’s IT industry?

The Hindu  

There has been a slew of layoff announcements in the Western corporate world these past months, gathering pace over recent weeks. E. Balaji, currently Global chief HR officer at TVS Supply Chain Solutions, who has also been a senior leader in the manpower placement industry for more than a decade prior to this position, says fear of reputation loss and …

IT, startups may cut up to 20,000 jobs in next 6 months
1 year, 11 months ago

IT, startups may cut up to 20,000 jobs in next 6 months

Live Mint  

India’s IT and startup sectors may lay off 15,000 to 20,000 employees in the next six months, battling slowing demand after the hiring frenzy of the last two years inflated salary costs. Over the last year, companies faced the fear of missing out on talent hiring and recruited in large numbers and paid them many folds more than inflation and …

TCS’ attrition rate inches lower to 21.3% in Q3, employees headcount dips
1 year, 11 months ago

TCS’ attrition rate inches lower to 21.3% in Q3, employees headcount dips

Live Mint  

IT giant Tata Consultancy Services' attrition rate for the quarter ending December 31, 2022, inched lower to 21.3%. TCS had made the second highest hiring among its peers after Infosys in Q2FY23 with a net addition of 9,840 employees compared to the June 2022 quarter where headcount stood at 606,331 employees. Coming to IT services attrition, the Tata Group-backed company …

If you have Indian IT stocks, should tech layoffs worry you?
2 years ago

If you have Indian IT stocks, should tech layoffs worry you?

Live Mint  

Many major US IT companies felt the burn of macroeconomic headwinds and prepared by trimming their employee strength through massive layoffs to improve margins. However, the revenue of the major Indian IT companies in the last quarter was consistent with the estimates with healthy outlook commentary, as per analysts. Going forward, healthy deals in the areas are estimated to drive …

TCS, Infosys, Wipro, HCL Tech Face High Attrition Rates; Know What Experts Say On The Issue
2 years, 2 months ago

TCS, Infosys, Wipro, HCL Tech Face High Attrition Rates; Know What Experts Say On The Issue

News 18  

IT companies — Tata Consultancy Services, Infosys, Wipro and HCL Tech, among others — are facing high attrition rates and the IT sector’s average attrition rate is currently as high as 25 per cent. HCL Tech’s attrition remained at 23.8 per cent in Q2FY23, TCS attrition rate in IT services was 21.5 per cent during the September 2022 quarter. Wipro’s …

TCS Adds Net 9,840 Employees in Q2FY23, Lower Than Q1; Attrition Rate Continues To Rise
2 years, 2 months ago

TCS Adds Net 9,840 Employees in Q2FY23, Lower Than Q1; Attrition Rate Continues To Rise

News 18  

India’s largest IT services company Tata Consultancy Services on Monday reported a net addition of 9,840 employees during July-September 2022. TCS has been meeting demand for services around new technologies by continually investing in organic talent development,” TCS said in a BSE filing on Monday. Its attrition rate in IT services stood at 21.5 per cent during the September 2022 …

TCS attrition rate spikes to 21.5%, adds 9,840 new employees in Q2FY23
2 years, 2 months ago

TCS attrition rate spikes to 21.5%, adds 9,840 new employees in Q2FY23

Live Mint  

IT services firm Tata Consultancy Services saw attrition for the September quarter come in at 21.5%. While announcing its results for the second quarter of FY23, TCS' workforce stood at 616,171, a net addition of 9,840 employees during the quarter. In the June quarter, TCS had said that the rate of attrition was at 19.7% while in the March quarter, …

IT Hiring Likely To Be Cut By 20% In Next Financial Year 2023-24, Says Report
2 years, 2 months ago

IT Hiring Likely To Be Cut By 20% In Next Financial Year 2023-24, Says Report

News 18  

After a hiring boom in the software services sector during the pandemic, companies are likely to cut campus and entry-level hiring by as much as 20 per cent in the next financial year 2023-24, according to a livemint report. In the June 2022 quarter, TCS’ attrition rate stood at 19.7 per cent on a last twelve-month basis. The attrition rate …

57% of IT Professionals Would not Consider Returning to IT Services Sector: Survey
2 years, 2 months ago

57% of IT Professionals Would not Consider Returning to IT Services Sector: Survey

News 18  

As many as 57 per cent of IT professionals claim that they would not consider returning to the IT services sector in the future in a recent survey ‘Talent Exodus Report’ released by tech staffing firm, TeamLease Digital. The survey reveals that employees’ preference has changed from salary to flexibility, career growth, and value proposition. Read | In World of …

TCS, Wipro, HCL chalk out plans to retain employees amid high attrition
2 years, 5 months ago

TCS, Wipro, HCL chalk out plans to retain employees amid high attrition

Live Mint  

The rising attrition rate has continued to be a big concern for the IT companies in India due to increased demand for technology talent. As per the regulatory filing to the stock exchanges, the attrition rate in the Indian IT services major Tata Consultancy Services was at 19.7% in the past 12 months. Here are some of the significant strategies …

What employee attrition, hiring indicate about health of Indian IT companies
2 years, 5 months ago

What employee attrition, hiring indicate about health of Indian IT companies

Live Mint  

IT companies are expanding talent pools largely through freshers though they take time before they get into production. Brokerage and research firm Kotak expects 20%+ attrition across companies as they deal with talent crunch in a buoyant demand environment. Attrition rates have been high across IT companies through the last few quarters as demand for technology talent with digital skills …

How top Indian IT companies Infosys and TCS are fighting attrition
2 years, 6 months ago

How top Indian IT companies Infosys and TCS are fighting attrition

Live Mint  

Attrition rates have been high across IT companies through the last few quarters as demand for technology talent with digital skills continued to outstrip supply with increasing labor costs. “The companies have taken various measures such as offering competitive compensation, improving employee engagement, employee wellbeing, reskilling, and providing better opportunities to acquire and retain talent. Though attrition remained elevated, companies …

TCS sees fall in staff attrition, robust demand for IT services
2 years, 6 months ago

TCS sees fall in staff attrition, robust demand for IT services

Live Mint  

India's top software services exporter Tata Consultancy Services expects the rate of staff departures to fall and demand for its services to rise as companies continue with their pandemic-hastened digitisation processes, a company executive said. More tech talent is expected to enter the job market from startups facing funding crunches, as central banks withdraw stimulus and hike rates, TCS Asia …

TCS, Infosys To Hire Over 90,000 This Fiscal; WFH To Continue; Know All About IT Jobs
2 years, 7 months ago

TCS, Infosys To Hire Over 90,000 This Fiscal; WFH To Continue; Know All About IT Jobs

News 18  

At a time when the information technology industry is facing high attrition rates amid a robust environment full of demand, the companies are ramping up their fresh recruitment and aiming to cut attrition. Infosys’ attrition rate rose to 27.7 per cent in the March 2022 quarter, up from 25.5 per cent in the December 2021 quarter. For the fourth quarter …

TCS attrition rate continues to rise, but ’moderating’
2 years, 8 months ago

TCS attrition rate continues to rise, but ’moderating’

Live Mint  

While announcing its Q4FY22 earnings, IT giant Tata Consultancy Services said that its IT services attrition continued to climb during the January-March 2022 period, reaching 17.4%. "The company’s philosophy of investing in people, and its progressive workplace policies have resulted in industry leading retention in an environment of increased churn," India's top IT company said in a statement. Attrition rates …

TCS adds over 35,000 employees in Q4, highest ever in a quarter
2 years, 8 months ago

TCS adds over 35,000 employees in Q4, highest ever in a quarter

Live Mint  

India's largest IT service provider Tata Consultancy Services witnessed highest ever employee additions in a quarter during the January-March 2022 period, with net additions of 35,209 employees during the fourth quarter, taking the employee headcount at 592,195. “With the highest ever net addition this year, consistently highest talent retention, benchmark talent development metrics, continued focus on health and wellbeing and …

IT, E-Commerce Remain Top Recruiters for Q3 FY 2022: Report
2 years, 9 months ago

IT, E-Commerce Remain Top Recruiters for Q3 FY 2022: Report

News 18  

IT and ITeS, ecommerce, retail, logistics, and hospitals were among the top hiring sectors in Q3 FY22, claimed the Flexi Staffing Industry Report Q3 FY22 released by Indian Staffing Federation, the apex body representing the manpower outsourcing industry in India. It added that the flexi staffing industry withstood Omicron fears in Q3 FY22, growing 3.5 per cent and maintaining 21.5 …

4.5 Lakh Techies Got Hired By Indian Tech Sector in FY22
2 years, 10 months ago

4.5 Lakh Techies Got Hired By Indian Tech Sector in FY22

News 18  

The Indian tech industry hired nearly 4.5 lakh people in FY2022, the highest-ever net addition in the overall employee base, as the country went through pandemic-triggered digital transformation, a new Nasscom report revealed on Tuesday. With one out of three employees already digitally skilled, the digital tech talent pool stood at 1.6 million, growing at a compound annual growth rate …

TCS, Infosys, Wipro Hire Over 1 Lakh Employees this Fiscal. Know Details
2 years, 11 months ago

TCS, Infosys, Wipro Hire Over 1 Lakh Employees this Fiscal. Know Details

News 18  

IT Hiring in India: IT majors TCS, Wipro and Infosys announced their Q3 results recently, largely posting profits for the time period. Here Are the Hiring Targets of Infosys, TCS and Wipro: Infosys Hiring in FY22 India’s second largest company Infosys on Wednesday said that it plans to hire more than 55,000 freshers for FY22 as part of its global …

IT Jobs in India: IT BPM Sector to Hire 3.75 Lakh Employees in FY22; Know Details
3 years ago

IT Jobs in India: IT BPM Sector to Hire 3.75 Lakh Employees in FY22; Know Details

News 18  

The Information Technology and Business Process Management sector is expected to see a hiring boom in 2021-22 amid increased investments as well as rapid growth of adoption in technology by enterprises across India. While full-time employment commands the volume, with 17 per cent growth it is contract staffing that will gain significantly from the positivity in the market, said the …

India's IT services sector to see 4.5 lakh gross employee addition in second half of FY22: Report
3 years, 1 month ago

India's IT services sector to see 4.5 lakh gross employee addition in second half of FY22: Report

Hindustan Times  

Indian IT services sector is expected to see a gross employee addition of about 4.5 lakh in the second half of the fiscal ended March 2022, according to a report by market intelligence firm UnearthInsight. With higher attrition in the second half of around 17 to 19 per cent, the industry is expected to have a net employee addition of …

What's behind record staff exits at Indian IT giants?
3 years, 2 months ago

What's behind record staff exits at Indian IT giants?

Business Standard  

If you are an IT worker in India, there is a chance you would have contemplated switching jobs in the past year or may have already done so. The country’s top four IT exporters – Tata Consultancy Services, Infosys, Wipro and HCL Technologies – reported a steep rise in voluntary attrition in the July-September quarter. Speaking to Business Standard, Wipro …

Fresher Jobs: Top 4 IT Companies In India To Employ 1.6 Lakh Freshers In FY22 — Know More
3 years, 2 months ago

Fresher Jobs: Top 4 IT Companies In India To Employ 1.6 Lakh Freshers In FY22 — Know More

ABP News  

New Delhi: Good news for freshers seeking jobs opportunities. The top 4 Indian IT companies, namely, TCS, Infosys, Wipro, and HCL Tech, are going to double their hiring target in 2021-22 to 1.6 lakh freshers. Top 4 IT companies hired 82,000 freshers in the fiscal year 2021 and employed 53,964 employees in the quarter ended September 2021, up from 17,076 …

TCS, Infosys, Wipro, IT Jobs Hiring Rises 163% this Year: What Skills Employers Looking For
3 years, 3 months ago

TCS, Infosys, Wipro, IT Jobs Hiring Rises 163% this Year: What Skills Employers Looking For

News 18  

In recent times there has been a great surge of talent in the IT industry which has somewhat disrupted the demand-supply balance of the ecosystem. It was also reported that there has been a 163 per cent year-on-year growth in the hiring for June 2021, as per the data from the Quess report. New buzz words such as ‘workforce skilling’, …

TCS, Infosys, IT Companies On Hiring Spree: 120% Salary Hike, Bonus to Joinees. Know Why
3 years, 3 months ago

TCS, Infosys, IT Companies On Hiring Spree: 120% Salary Hike, Bonus to Joinees. Know Why

News 18  

With the onset of this pandemic in 2020, many sectors bore the brunt, so much so, many sectors carried out massive layoffs but now we are over 1.5 years after this pandemic, some good news from some sectors has started pouring in. The demand for skilled technical job roles like Application Developer, Lead Consultant, Salesforce Developer and Site Reliability Engineer …

TCS, Infosys, Wipro to hire more than 1 lakh freshers
3 years, 5 months ago

TCS, Infosys, Wipro to hire more than 1 lakh freshers

Live Mint  

As covid cases continue to decline, hiring activity of Indian firms is showing signs of revival after the disruption caused by the deadly second wave in the country. India's biggest informational technology service providers Tata Consultancy Services, Infosys and Wipro are expected to welcome more than 1 lakh freshers combined in this fiscal year, as claimed by the firms in …

Indian IT sector continues to be net hirer, top 5 IT cos to add over 96,000 employees: Nasscom
3 years, 6 months ago

Indian IT sector continues to be net hirer, top 5 IT cos to add over 96,000 employees: Nasscom

Live Mint  

IT industry body Nasscom on Thursday said the sector continues to be a net hirer of skilled talent, and the top 5 Indian IT companies are planning to add over 96,000 employees in 2021-22. The industry continues to be a net hirer of skilled talent, adding 1,38,000 people in FY2021," Nasscom said in a statement. "The industry is upskilling more …

53% Indian Firms Plan Hirings, 60% Set to Increase Salaries as IT Sector Leads Rebound
3 years, 10 months ago

53% Indian Firms Plan Hirings, 60% Set to Increase Salaries as IT Sector Leads Rebound

News 18  

With TCS piping Accenture to become the most valuable IT company in the world, India’s IT sector has successfully negated the naysayers. Now, according to according to professional recruitment services firm Michael Page India’s ‘Talent Trends 2021 Report’, 53 per cent of companies say they are planning to increase their headcounts in 2021. According to the report, India projects an …

Hyderabad Based IT Firms Find It Difficult To Return To Office Amid Covid Pandemic, Continue To Operate With Work From Home
4 years, 3 months ago

Hyderabad Based IT Firms Find It Difficult To Return To Office Amid Covid Pandemic, Continue To Operate With Work From Home

ABP News  

The IT/ITES companies in Hyderabad continue to operate with Work From Home due to the Covid-19 pandemic and there is clear lack of confidence in returning to office, a survey by the apex body of the industry revealed on Tuesday.The survey by the Hyderabad Software Enterprises Association found that 95 per cent of the companies across the board continue to …

Discover Related