The IT sector has been resorting to layoffs since last year and as a result of this, the number of employees of companies such as TCS, Infosys, Wipro and HCL Tech has also reduced in the March 2023 quarter
Also Read- Five Stocks To Turn Ex-Dividend This Week Ending on May 5. Do you Own These?
TCS Vs Infosys Vs Wipro Vs HCL Tech Employee Count: The IT sector has been resorting to layoffs since last year due to “economic uncertainty” and as a result of this, the number of employees of companies such as TCS, Infosys, Wipro and HCL Tech has also reduced in the March 2023 quarter. However, during the quarter, the attrition rates of major IT companies have also reduced. Here’s the complete comparison of employee strength and attrition:
Tata Consultancy Services
Total Employee Headcount: The total workforce of TCS stood at 6,14,795 as on March 31, 2023. This is lower than the 6,16,171 employees recorded in the September 2022 quarter. The workforce continues to be diverse, comprising 150 nationalities and with women making up 35.7 per cent of the base.
Read More:– Nexus Select Trust to Hit Capital Market on May 9 to Raise Up to Rs 3,200 Cr Via Retail REIT IPO
Attrition: The company’s IT services attrition rate continues to trend downwards and was at 20.1 per cent on an LTM (last-twelve-month) basis. In the previous quarter ended December 2022, the attrition rate had stood at 21.3 per cent, which was marginally lower than the 21.5 per cent during the quarter ended September 2022.
Hiring: TCS added a net of just 821 employees during January-March 2023 and 22,600 for the year.
Read More:– Attention Taxpayers! April 30 is The Last Date For THESE Income Tax, GST Filings
Wipro
Total Employee Headcount: As of March 31, 2023, the company’s total headcount stood at 2,56,921 employees.
Attrition: Wipro’s voluntary attrition during the March 2023 quarter decreased 330 bps from the previous quarter, landing at 14.1 per cent on a quarterly annualised basis and at 19.2 per cent on a trailing twelve-month basis.
Hiring: Wipro added around 5,000 employees, mainly engineers, in the last quarter, said Saurabh Govil, president and chief HR officer. Its CEO and Managing Director Thierry Delaporte said, “We will continue to hire (based on the company’s need). Also, attrition is going down, we need to take that also into account.”
Infosys
Total Headcount: The company’s total employee count as of March 31, 2023, was 3,43,234, which is lesser by 3,611 than the previous quarter’s 3,46,845 employees.
Read More:– 4 High Dividend Stocks With Impressive Cash Flow
Attrition: Infosys’ voluntary attrition (LTM – IT services) stood at 20.9 per cent on a trailing twelve-month basis, showing a declining trend. It had reached 28.4 per cent in Q1FY23, which later slipped to 27.1 per cent in Q2FY23.
Hiring: The company added 1,627 employees in the fourth quarter of FY23 (Q4 FY23), which was lower than the previous quarter.
Also Read– Vi launches new prepaid plan with 180 days validity, check all benefits
HCL Tech
Total Headcount: The company’s total headcount stood at 2,25,944 as of March 31, 2023. This is significantly lower than the 11,100 employees hired in the corresponding quarter last year.
Attrition: The Q4 attrition rate for the quarter stood at 19.5 per cent on the last twelve-month (LTM) basis, decreasing significantly from 21.7 per cent in the previous quarter and 21.9 per cent in the same quarter last year.
Hiring: HCL Tech added a net of 17,067 employees for the fiscal year 2023, which is significantly lower than about 57.3 per cent from the 39,900 employees added in FY22. Total fresher addition for FY23 came in at 26,734. The net employee addition for the full-year FY23 stood at 17,067 as compared to 39,900 in FY22.
