TCS, Infosys and Wipro are Hiring Again | IT Jobs are Back!
An indicator of demand and recovery after the Covid-19 shock led to a decline in the previous quarter. Software majors TCS, Infosys, and Wipro are hiring in big numbers again.
IT Companies Performing Well
As per the reports, IT majors like Infosys, Tata Consultancy Services and Wipro are showing a strong rebound in net employee hiring during the second quarter. All three companies reported a sequential increase in their overall headcount for the July-September period. Headcount addition has traditionally been a strong indicator of growth for IT companies, though it has been coming down in the last few years due to automation.
|Total employee headcount
|Total employee headcount
|June 30, 2020
|September 30, 2020
Compared to the decline of 3,138 employees in Q1, Infosys’ net employee hiring increased by 975 in Q2.
On the other hand, TCS also recorded a net addition of 9,864 associates in the second quarter compared to the earlier decline of 4,788 in the first quarter when the pandemic exposure was at its peak.
In the case of Wipro, they have added 3,439 associates (net), where 3,000 freshers, in Q2 as against a decline of 1,082 in Q1.
Recovery In The IT Segment
Here, the increase in net employee hiring grew with the revenues.
In Q2, TCS recorded a revenue of Rs 40,135 crore, which is up by 4.7 percent QoQ and higher by 3 per cent YoY.
In similar manners, Infosys’ also reported a revenue of Rs 24,570 crore, which is a growth of 3.8 percent QoQ and 8.6 percent YoY.
While Wipro is not far behind with recorded Rs 15,115 crore in revenue, up 1.4 percent sequentially and with a marginal decrease of 0.1 percent YoY.
CEO’s on quarter Results
“On the people front, we onboarded about 8,000 freshers entirely virtually, and also ramped up our hiring to support our growth. Our investments in organic talent development saw a surge in the learning effort during this quarter. Our retention continues to be an industry benchmark and a significant competitive differentiator for us, with IT services attrition at 8.9% which is an all-time low,” TCS CEO Rajesh Gopinathan said after the company’s second-quarter earnings.
At the same time, Infosys COO UB Pravin Rao said, “On the headcount, obviously, the headcount increase in – will be in line with the growth. This quarter, we had 5,500 additions; about 3,000 were fresher’s both in India and abroad; and about 2,500 laterals.
Our utilization, if you recall, was much lower in quarter one and it has improved significantly, but the number of hiring was on the lower side this quarter. So hiring in subsequent quarter three, quarter four will obviously be dependent on the growth.”
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