🚨 India's top four IT companies have reported a combined head count drop of 50,875 in nine months of FY24.
— Indian Tech & Infra (@IndianTechGuide) January 13, 2024
TCS - 10,669 drop
Infosys - 24,182 drop
Wipro - 18,510 drop
HCL Tech - 2,486 increase
The 2024 fiscal year has witnessed a combined headcount decrease of 50,875 as disclosed by India’s premier IT companies such as TCS, Infosys, Wipro, and HCL Tech.
Reduced Headcounts In IT Firms Raises Concerns
Infosys alone has observed a reduction of 24,182 from its workforce.
Its peers TCS reported a drop of 10,669 employees, while Wipro posted fall of 18,510,
Surprising the audience, Noida headquartered HCL Tech reported an increase of 2,486 employees in its workforce.
All these numbers indicate that the IT sector’s workforce dynamics are presently undergoing significant shifts.
This is mostly affected by the top-level exits and also there is a notable decline in headcounts overall.
Besides this, the India IT industry is also mired in a poaching controversy, where Infosys and Wipro accusing Cognizant for poaching employees.
Legal Actions Against Employee Poaching
You can understand the intensity of the issue as IT firms have even taken Legal actions.
For instance, Wipro has filed a lawsuit against its former CFO and executive for joining Cognizant.
Indian IT giants including Infosys, Wipro, and Tech Mahindra have observed a series of top-level exits during past years.
In comparison to that, IT firms such as TCS and HCLTech have faced fewer departures.
Notably, this shifting workforce dynamics highlights the forthcoming challenges which the Indian IT industry has already started facing.
This shift definitely demands strategic responses from industry leaders.
While talking on the subject of poaching, 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.”
In the meantime, Infosys’ Chief, Salil Parekh, seems to have refrained from commenting on this matter.
His silence on this subject reflects the sensitivity surrounding the issue.
But one can not deny that the evolving narrative in India’s IT sector henceforth calls for a nuanced understanding of workforce dynamics, strategic maneuvering.
This also calls for a proactive approach to navigate the challenges presented by shifting employee landscapes and industry disputes.
