Net hiring in India's top four IT firms drops by 97% to 1,940 in Q3FY23

Tata Consultancy Services, Wipro, Infosys and HCL Tech- reported a combined net addition of 1,940 employees in the quarter that ended December 2022

Tata Consultancy Services, Wipro, Infosys and HCL Tech— reported a combined net addition of 1,940 employees in the quarter ended December 2022, the Economic Times reported. 

This is the lowest in the past 11 quarters. The slowdown in demand for technology services can be attributed to rising macroeconomic uncertainty around the globe and geopolitical concerns.

These big four IT firms recorded a net addition of 61,137 employees in the third quarter of FY22. In contrast, with the present circumstances, these companies fiercely competed with each other in hiring to meet the increased demand for digitisation due to the Covid-19 pandemic.