- India’s leading IT companies, including TCS, Infosys, and Wipro, experienced a workforce reduction of 51,744 in H1 FY24, marking the first collective drop in over 25 years.
- The companies’ headcount peaked in FY 2021-23, but has since dipped across the board in H1 FY 24.
- In response to the weak demand environment, these firms plan to reduce hiring in the upcoming quarters, with some even skipping campus recruitment.
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