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Another Recession

Six major IT companies reduce employee strength by over 4,000


TNN

HIGHLIGHTS

  • With the exception of TCS and HCL Tech, all major Indian IT companies have downsized their employee strength
  • Cognizant has seen the sharpest decline - of over 5,000 employees
  • Six major IT firms have trimmed workforce by 4,157 in the first half of this fiscal

BENGALURU: The $156-billion Indian IT industry, often called the biggest job creator in the organised sector, is seeing a tectonic shift in recruitmentFor the first six months of the fiscal, Cognizant, InfosysWipro and Tech Mahindra have all seen their employee strength actually decline — quite sharply in Cognizant's case (by over 5,000). TCS and HCL Technologies are the only exceptions among India's top six IT companies, but even TCS' addition is a fraction of what it did in the first six months of the previous fiscal.

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