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India’s premier IT companies, TCS, Infosys, Wipro, and HCL Tech, have disclosed a combined headcount decrease of 50,875 in the nine months of the fiscal year 2024. TCS reported a drop of 10,669 employees, Infosys witnessed a reduction of 24,182, and Wipro posted an 18,510 fall. Surprisingly, HCL Tech reported an increase of 2,486 employees.
The IT sector’s workforce dynamics are undergoing significant shifts, with top-level exits and a notable decline in headcounts. The industry has also been mired in a poaching controversy, with Infosys and Wipro accusing Cognizant of employee poaching. Legal actions, such as Wipro’s lawsuit against its former CFO and executive for joining Cognizant, highlight the intensity of the issue.
“While Infosys, Wipro, and Tech Mahindra have witnessed a series of top-level exits in the past year, TCS and HCLTech faced comparatively fewer departures. The shifting workforce landscape underscores the evolving challenges faced by the IT sector, demanding strategic responses from industry leaders’.
“Wipro’s CEO, Thierry Delaporte, emphasized that their approach to contract obligations is guided by standard business practices, not personal motives. The poaching dispute has added complexity to the industry dynamics, prompting legal actions and notices”.
Infosys’ Chief, Salil Parekh, has refrained from commenting on the poaching matter, reflecting the sensitivity surrounding the issue. The evolving narrative in India’s IT sector calls for a nuanced understanding of workforce dynamics, strategic maneuvering, and a proactive approach to navigate the challenges presented by shifting employee landscapes and industry disputes.
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