IT companies skimped on hiring employees, TCS reduced hiring by 78%, Infosys by 46%

IT companies skimped on hiring employees, TCS reduced hiring by 78%, Infosys by 46%

TCS-Infosys Headcount: Is everything not going well in the IT sector? This question is arising because in the last two days, two leading IT companies of the country have declared their fourth quarter results for the financial year 2022-23. And both the companies have informed that in the financial year 2022-23, they have made a big reduction in the hiring of employees as compared to 2021-22.

On Wednesday, TCS said that in 2022-23, the company hired only 22,600 new employees on a net basis, while in 2021-22 the company hired 1.03 lakh employees. That is, the hiring of TCS has decreased by 78 percent. The number of employees working in TCS has now increased to 614795. TCS said that in the fourth quarter, the company hired only 821 employees.

With the announcement of quarterly results, Infosys said that in 2022-23, the company has hired a total of 29,219 employees. Whereas in 2021-22, the company had hired a total of 54,396 employees. That is, there has been a decline of 46 percent in the hiring of Infosys. There has been a reduction of 3611 in the headcount of Infosys in the January to March quarter. As on 31 March 2023, the total number of employees of Infosys is 3,43,234. The company said that it has hired 51,000 freshers in 2022-23. However, the company has not disclosed how many freshers will be hired in 2023-24. TCS Chief HR Officer Milind Lakkad said that we have just completed the National Qualified Test in which more than 6 lakh people had participated. We have issued 46,000 offers.

Looking at the hiring data of these companies, it can be inferred that the sentiment in the IT sector has deteriorated. The global economy is going through a crisis. Veteran IT companies like Accenture have announced layoffs. The company is going to lay off 19,000 employees in the next two quarters.

It is believed that in 2023-24, there may be a big decline in hiring as compared to last year. TeamLease estimates that new hiring could drop by up to 40 percent this year. The company has also reduced its guidance. And until companies do not change their growth estimates, there may be a decrease in hiring in the IT sector.

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