Another Recession

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

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, Infosys, Wipro 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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