Now Reading: India’s top IT firms cut net 9,100 staff in June quarter
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India’s top IT firms cut net 9,100 staff in June quarter
The four biggest IT firms, TCS, Infosys, HCLTech and Wipro, removed a net 9,100 employees in the April-June quarter this year, reports NDTV.com. A year earlier, in the same quarter, they had…
The Story in Brief
The four biggest IT firms, TCS, Infosys, HCLTech and Wipro, removed a net 9,100 employees in the April-June quarter this year, reports NDTV.com. A year earlier, in the same quarter, they had added 22,622 people. The sharp reversal points to a structural shift in hiring by India’s flagship tech sector, beyond simple cost-cutting.
The Indian Opinion
The narrative that these layoffs are merely 'performance-based culling' ignores the abrupt reversal from adding 22,622 people to shedding 9,100 in a year. Equally, talk of a full-blown industry collapse is premature. The real test will be next quarter's net hiring figure: if it turns positive, the panic was overblown; if cuts deepen, something fundamental has shifted in Indian IT's labour model.
Source: ndtv.com
This story was synthesised by AI from the source linked above.
