Major Indian IT firms’ headcount continues decline
The headcount of six India-headquartered IT outsourcing companies – Cognizant, Infosys, Wipro, Tech Mahindra, TCS, and HCL – dropped by nearly 4,200 in the first six months of this fiscal year. The decline comes after an increase of almost 60,000 in the same period last year. Cognizant, Infosys, Wipro, and Tech Mahindra have all seen their employee strength decline during the period. Cognizant posted a 5,000 decline in the number of employees, the sharpest among the six firms. Analysts said it was the first time that companies reported a decrease in headcount. Automation is among the main factors cited for the decrease in headcount as AI is making thousands of entry-level jobs redundant.
