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Top Indian IT services companies — Tata Consultancy Services, Cognizant and Infosys — have significantly increased their net employee additions during the March quarter, compared to the same period last year.
Wipro, however, bucked the trend with a contraction.
The improved hiring is in the backdrop of anticipated business growth and higher attrition rate — in the range of 10-20 per cent .
TCS led the pack in hiring, followed by Cognizant and Infosys.
“To support our growth, we continue to tap into talent pools across the world and add to our ranks. During this quarter, we added 6,356 employees on a net basis, bringing the total net addition for the year to 29,287. Our focus on diversity and inclusiveness continues to yield results,” V Ramakrishnan, CFO, TCS, had told analysts.
Salil Parekh, CEO and MD, Infosys, had said : “I think the overall demand environment is strong and therefore, the talent availability is constrained across the board, especially in the US. We have been able to fulfil the demand through fairly aggressive recruitment.” Over 50,000 new hires join the company in fiscal 2019, he had told analysts.
“We ramped up hiring in fourth quarter — and then in the beginning of March quarter — for the anticipated growth this year. It is hard to pull down the hiring. But once you have people on board you need the revenue to provide support,” Karen McLouhglin, CFO, Cognizant Technology Solutions, told analysts.
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