New Delhi: The big four IT firms – TCS, Infosys, HCL Technologies and Wipro – are hiring 66% less employees in FY23 than a year ago, the Financial Express reported.
The four firms hired 82,679 employees in FY23 as compared to 243,258 staff in FY22.
The report said TCS saw the sharpest decline in hiring at 78% in FY23, followed by Wipro at 70%. The decline in net addition by HCL Tech and Infosys was at 57.2% and 46.3%, respectively, on a year-on-year basis, it added.
Analysts told the newspaper that the talent market is returning to the pre-pandemic times with FY23 numbers being closer to that of FY21, when net addition was at 86,685 employees.
“If you look at quarterly annualised attrition, our attrition rate has come down by 4.2% from last quarter to this quarter. For future, I expect it to come down to pre-pandemic levels in the second half of this year,” Milind Lakkad, chief HR officer said, TCS, told the business daily at the post-March quarter earnings of the company.
However, there was an increase in revenue per employee by all the companies in FY23, the report said.
“TCS’s revenue per employee increased to Rs 36.6 lakh in FY23 from Rs 32.4 lakh in FY22. Similarly, revenue per employee for Infosys increased to Rs 42.7 lakh compared to Rs 38.7 lakh in FY22. HCL Tech and Wipro also saw their revenue per employee go up to Rs 44.9 lakh and Rs 35.2 lakh, respectively, in FY23, from Rs 41 lakh and Rs 32.5 lakh,” it said.