Indian IT majors reduce hiring numbers

The Big Five software exporters – TCS, Infosys, Wipro, HCL and Cognizant – together added net 24 per cent fewer employees in 2015 at 77,265. US-listed, Chennai-based Cognizant Technologies down 74.6 per cent from 2014, HCL Technologies down 71 per cent and TCS dip by 6.6 per cent at 26,066. Infosys made a whopping 111.4 per cent net addition at 23,745 in the year, due to the massive attrition the company was facing in the past many years. At the end of December 2015, these five companies had a headcount of 1.34 million.

These companies’ combined dollar revenue grew 9.8 per cent. Their revenue per reported employee stands at USD 45,000-52,000 per year. Infosys has given a guidance to take this to USD 80,000 per annum by 2020.

These software majors reduce their headcount relative to their income, layoff high-paid employees, increase the proportion of low paid employees, and thus continue to increase their profits.

News : http://www.businesstoday.in/sectors/it/automation-reduces-hiring-of-big-five-it-firms-by-24-per-cent/story/229977.html

Permanent link to this article: http://new-democrats.com/indian-it-majors-reduce-hiring-numbers-3/

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