More work, per worker: How IT cos are earning smarter

Geopolitical conflicts have prompted major corporations to curb their technology expenditures, leading to reduced demand for IT services and, consequently, less recruitment by outsourcing giants.

- 

While India's largest IT outsourcers continued to expand their headcount until FY23, hiring has decelerated significantly thereafter. Over the past two years, TCS, Infosys, HCLTech, Wipro, and Tech Mahindra have collectively cut their workforce by 57,891 employees.

Bengaluru-based Wipro, which generates the lowest revenue per employee among the top four, was responsible for the largest portion of these job cuts. This contrasts sharply with FY23, when the top five firms, led by TCS, collectively added 358,932 employees from the end of FY21.