India’s top 5 IT firms continue headcount decline for 7th straight quarter

For the seventh consecutive quarter, India’s top five IT services firms have experienced a decline in headcount. However, the slower pace of this reduction in the April-June quarter has generated optimism that these companies may end the financial year with a net increase in their workforce, according to a report by the Economic Times.

In the first quarter ending June 30, the total number of employees at Tata Consultancy Services, Infosys, Wipro, HCLTech, and Tech Mahindra dropped by 2,034, compared to the previous quarter, the quarterly data released in July showed. Notably, Tata Consultancy Services, Wipro, and Tech Mahindra reported net increases in their employee numbers.