TCS, HCL Tech and Infosys recruited only 884 employees in the fourth quarter.
Tata Consultancy Services, Infosys and HCL Tech have added 65 per cent fewer employees with them in 2023 compared to 2022.
Amid fears of a recession, companies across the globe are laying off employees. Although big Indian IT companies have not laid off their employees yet, hiring in these companies has been slow lately. In the financial year 2023, compared to the previous financial year, the top three Indian IT companies – Tata Consultancy Services (TCS), Infosys and HCL Tech have added 65 per cent fewer employees with them.
While these three companies gave jobs to 1.97 lakh people in the financial year 2022, this figure came down to only 68,886 in the financial year 2023. Companies are hiring fewer people fearing the banking crisis and recession in America and Europe.
According to a Moneycontrol report, recruitment of employees is seen as a key indicator of demand. Even in the fourth quarter of FY2023, all three companies recruited very few employees. Compared to the fourth quarter of FY 2022, the three companies added 98.7 per cent fewer employees compared to the same quarter of FY2023. TCS, HCL Tech and Infosys recruited only 884 employees in the fourth quarter. At the same time, in the fourth quarter of FY202, the three companies together gave employment to 68,257 people.
TCS Chief Human Resources Officer Milind Lakkad said that in the financial year 2023, the company hired a total of 22,600 employees. At the same time, in the financial year 2022, TCS recruited 1,03,546 people.
In the financial year 2023, Infosys recruited a total of 29,219 employees. This figure is much less than the 54,396 recruitments in the previous financial year i.e. 2022. In the fourth quarter of FY2023, the company hired only 3,611 employees whereas in the same quarter of FY2022, this figure was 21,948.
HCL Tech also gave jobs to only 17,067 people in the financial year 2023. While in the financial year 2022, the company hired 39,900 employees. In the fourth quarter of FY2023, HCL employed only 3,674 people whereas in the same quarter of FY2022, this figure was 11,100.
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