Major IT Firms Downsize with 75,000 Job Cuts, Fresh Graduates Affected
Gurgaon, Feb. 15 -- Employment levels at big Indian IT firms have fallen for the fourth consecutive quarter, owing to a cautious approach to new recruitment and a slow pace of replacing staff who leave. This tendency is against fluctuating demand in major markets, significantly reducing personnel numbers at the industry's leading companies.
The total employee count of the top eight IT businesses has fallen
The total employee count of the top eight IT businesses fell by 17,534 in the quarter ended 31 December, according to the Economic Times, citing statistics from Xpheno, a hiring firm. Year-on-year (YoY) figures show an even starker contrast, with Tata Consultancy Services, Infosys, Wipro, HCLTech, LTI Mindtree, L&T Technology Services,...
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