Hiring by top IT firms dips 36 percent

By SiliconIndia   |   Thursday, 30 October 2008, 04:08 Hrs   |    4 Comments
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New Delhi: The downturn hit IT companies have rigorously decelerated their hiring trend with the top five IT companies in India posting a 36 percent decline in their rate of manpower addition. As a whole, Tata Consutancy Services (TCS), Infosys, Wipro, Satyam and HCL Technologies hired 17, 000 employees in the recent quarter against 26, 500 employees hired during the same quarter in 2007.

"The overall recruitments are lower for the industry this time as companies remain cautious amid the global financial crisis," said D. K. Srivastava - Global Head HR, HCL, as reported by Business Line. While TCS hired 5328 employees compared to 9268 employees in 2007, Wipro hired 1877 people compared to 6096 people in 2007. Infact, Satyam, which have 1814 employees, has slashed its hiring targets by around 33 percent, which is between 8000 and 10, 000 recruitments for the entire year. But TCS has plans to add 30,000-35,000 people during FY09.

Moreover, the slowing recruitments have slowed the attrition rates too. While Infosys' attrition dropped from 14.2 percent to 12.8 percent between the September 2007 and September 2008 quarters, Satyam's fell from 13.89 percent to 12.27 percent in the same period. Infact, it was only TCS which saw a surge in the attrition from 11.5 percent to 13.2 percent.

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