Large IT firms in India have reduced their hiring owing to evolving global macroeconomic headwinds. Furthermore, they over-hired in previous quarters leading to reduction in hiring in the third quarter, according to The New Indian Express. Tata Consultancy Services, which recently reported a revenue increase of 8.4% in Q3, saw its net addition reduce by 2,197 in the December quarter. Meanwhile, Infosys, which also recently reported a revenue increase in Q3, hired 1,627 people in December quarter against 12,450 in the same quarter last year. Meanwhile, Wipro’s headcount fell by 435 in December quarter. The company had hired 10,306 employees in Q3FY22. HCL hired 2,945 employees in the quarter compared to 10,143 a year-ago.

Vijay Sivaram, CEO, Quess IT Staffing, said, “As the market course-corrects from last year’s hiring surge, we have seen a moderation in hiring, attrition and subcontractor costs in IT sector. Freshers employed in the last one-two years are now skilled and ready to be deployed in their roles, hence, we will see a tailwind in lateral hires this year.”