For the quarter ending September this year, hiring in three of India’s leading IT / BPO firms – Tata Consultancy Services (TCS), Infosys and Wipro – was up 59% compared to the previous quarter, with the three having taken on a combined total of 28,157 new employees, compared to just 16,687 in Q1FY20, according to a report by The Hindu BusinessLine, a Chennai-headquartered business daily. In individual terms, TCS hired an additional 14,097 workers, well above its previous all-time quarter high of 12,356. For its part, Infosys added 14,000 employees, while Wipro hired more than 6,600 during the three-month period. Overall, all three IT firms bucked the trends evident in a number of other sectors, where job losses and business failures have become increasingly common.
Outlining the reasons for the robust performance of IT firms overall, Sanjeev Hota, head of research for Sharekhan by BNP Paribas, the Mumbai-headquartered retail brokerage, said there had been a substantial number of big deals signed in the sector over the last few quarters, with localization initiatives in several key areas among the factors contributing to the positive recruitment sentiment. In line with this, as well as taking on new staff, all three companies also reported a decline in their attrition rates over recent months.