Due to the “economic uncertainty” that has plagued the IT industry since last year, the March 2023 quarter saw a decrease in the number of workers at organizations including TCS, Infosys, Wipro, and HCL Tech. However, significant IT companies' attrition rates have decreased over the past quarter. The full comparison of staff strength and attrition is shown below:
TCS Tata Consultancy
Total Employee Headcount: As of March 31, 2023, TCS has 6,14,795 employees. This number is less than the 6,16,171 workers reported for the quarter ending in September 2022. With 150 different countries represented in the workforce and women making up 35.7% of the base, it remains diverse.
Attrition: On an LTM (last-twelve-month) basis, the company's attrition rate for IT services was at 20,1%, continuing its decreasing trend. The attrition rate was 21.3 percent in the most recent quarter, which concluded in December 2022. This figure was somewhat lower than the 21.5 percent recorded in the quarter that ended in September 2022.
Only 821 new employees were hired by TCS between January and March 2023, totaling 22,600 for the entire year.
Wipro
Total Number of workers: As of March 31, 2023, the corporation has 2,56,921 total workers.
Attrition: Wipro's voluntary attrition for the quarter ending in March 2023 fell by 330 basis points from the previous quarter, coming in at 14.1% on a quarterly annualized basis and 19.2% on a trailing twelve-month basis.
Hiring: According to Saurabh Govil, president and chief HR officer of Wipro, the company hired 5,000 new workers in the past quarter, mostly engineers. Thierry Delaporte, the business's CEO and managing director, said, “We will keep hiring (based on the need of the company).” Additionally, we must consider that attrition is decreasing.
Infosys
Total Employees: As of March 31, 2023, there were 3,43,234 people employed by the firm, which is 3,611 less than the 3,46,845 people employed during the preceding quarter.
Attrition: On a trailing 12-month basis, Infosys' voluntary attrition (LTM – IT services) remained at 20,9%, indicating a downward trend. It had risen to 28.4% in the first quarter of FY23 before falling to 27.1% in the second.
Hiring: In the fourth quarter of FY23 (Q4 FY23), the corporation hired 1,627 people, which was less than in the third quarter.
Tech HCL
Total Employees: As of March 31, 2023, the corporation has 2,25,944 total employees. When compared to the same quarter last year, 11,100 new employees were hired, this number is significantly lower.
Attrition: On a last twelve-month (LTM) basis, the Q4 attrition rate for the quarter was 19.5%, a considerable drop from 21.7% in the previous quarter and 21.9% in the same quarter last year.
Hiring: For the fiscal year 2023, HCL Tech hired a net of 17,067 workers, which is much less than the 39,900 employees added in the previous fiscal year (FY22), which increased by around 57.3 percent. The total number of fresher additions during FY23 was 26,734. For the entire fiscal year FY23, there were 17,067 net new hires, down from 39,900 in FY22.
