Major Indian IT firms witness drastic drop in employee headcount in Q1 FY24

  • Q1 FY24 saw TCS, Infosys, Wipro, and HCLTech witnessing a significant reduction in employee headcount, unlike robust hiring in the same quarter the previous fiscal year.
  • Companies indicate future focus on leveraging existing workforce and investing in niche skills like AI, data security, and engineering.
  • The reduction in headcount aligns with some companies deferring salary hikes and focusing on developing internal AI capabilities.
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