In Q1 2023, the top 5 Indian IT businesses hired 59,704 people on net basis

26 Jul 2022 , 03:14 PM

In the first quarter of the 2023 fiscal year, hiring and attrition problems persisted for information technology (IT) organizations due to the continuous competition for IT talent.

In the three months that ended in June, the top five IT firms–Tata Consultancy Services (TCS), Infosys, Wipro, HCL Technologies, and Tech Mahindra–added a net of 59,704 new staff, including freshmen and lateral hires.

TCS, HCL, and Infosys reported a sequential fall in net additions, whilst Wipro and Tech Mahindra reported a gain. Overall net additions were much lower across these five organizations on a sequential basis than they had been in the three months ending in March when 85,720 new employees were employed.

The figure was higher year over year than in the first quarter of the previous financial year when these organizations recruited 41,471 individuals. At Infosys, TCS, and HCL, the attrition rate increased somewhat while it moderated at Wipro and Tech Mahindra.