The October-December 2024 quarter brought mixed results for India’s top IT services companies. Of the five major companies, only two—HCL Tech and Infosys—recorded an increase in their headcount, while the remaining three—TCS, Wipro, and Tech Mahindra—experienced a decline in headcount. Earlier, strength in hiring was seen in the July-September 2024 quarter. Let us analyze this change in depth.
HCL Tech: Positive growth signs
HCL Tech added 2,134 new employees in the October-December 2024 quarter. With this, the total number of employees of the company increased to 2,20,755.
- Comparison of previous quarters
- There was a reduction of 780 employees in July-September 2024.
- There was a huge decline of 8,080 employees in April-June 2024.
This latest increase indicates that the company has decided to accelerate hiring again.
- future plan
However, HCL Tech has reduced the target of hiring freshers for the financial year 2024-25 to 7,000, which was earlier more than 10,000. This reflects the company’s careful strategy.
Infosys: Effective recruitment and stable strategy
Infosys posted a strong performance in the third quarter, adding 5,591 new employees. The company’s CEO and MD, Salil Parekh, meanwhile said that future hiring plans will depend on the seasonal effects of discretionary spending and revenue growth of customers.
- upcoming plans
- Infosys has set a target of recruiting 20,000 freshers for the financial year 2025-26.
- The company plans to hire 15,000+ freshers this financial year.
This strong hiring target reflects the company’s positive outlook and confidence in long-term growth.
TCS, Tech Mahindra, and Wipro: Decline in employee numbers
tcs
TCS, India’s largest IT company, cut about 5,370 employees in the October-December 2024 quarter.
- Performance of previous quarters
This decline came after increasing the number of employees for two consecutive quarters. - possible cause
Challenges of revenue growth and cost cutting strategies.
Tech Mahindra
Tech Mahindra reduced 3,785 employees in the quarter.
- Decline despite hiring of freshers
The company has set a target of adding 6,000 freshers for the financial year 2024-25.- 1,000 freshers in the first quarter.
- 2,000+ freshers in September 2024 quarter.
The decline in employee numbers shows that the company is undertaking a massive restructuring.
wipro
Wipro cut 1,157 employees in the October-December 2024 quarter.
- past trends
- Added 2,500-3,000 freshers in July-September 2024.
- Inducted 3,000 freshers in April-June 2024.
- future plans
Wipro is targeting to recruit 10,000-12,000 students in the next financial year 2025-26.
Scenario of Freshers and Lateral Hiring
signs of improvement in demand
IT companies in India to focus on hiring both freshers and experienced professionals in 2025.
- wipro
- Plan to add 2,500-3,000 freshers every quarter.
- Expected 10,000-12,000 freshers in FY 2025-26.
- Tech Mahindra
- Added 2,000+ freshers in September 2024 quarter.
- Target to add 6,000 freshers by the end of 2024-25.
- Infosys
- Planning to hire 20,000+ freshers for FY26.
- Estimated to induct 15,000+ freshers in FY25.
- HCL Tech
- Freshers hiring target reduced to 7,000 for FY25.
