11,000 Techies Quit HCL, TCS, Wipro, Infosys, Tech Mahindra! – Shocking Report!

IT giants such as Wipro, Infosys, HCL, TCS, and Tech Mahindra had earlier seen a decline in their total work force. The attrition rate was high according to a report released by the Business Standard.
Due to lesser hiring and an increase in cost-cutting in the wake of the global pandemic, the decrease in their strength has become a major factor for indicating growth. Lesser strength has shown that the growth for IT companies is facing a downward spiral.
April-June quarter, TCS' headcount went down by 4,786, Infosys by 3,138, HCL Tech by 136, Wipro by 1,082 and Tech Mahindra by 1,820 reported Times Now. Totally 10,962 people left these software firms during the quarter.
TCS had a total strength of 4,48,462 employees as on March 30, 2020. However, only 4,43,676 employees were present as on June 30, 2020. Similarly, Infosys has come to 2,39,233 from 2,42,371; HCL Technologies went from 1,50,423 to 1,50,287; Wipro went from 1,82,886 to 1,81,804; and Tech Mahindra went from 1,25,236 to 1,23,416.
Infosys’ COO Pravin Rao said, "In this quarter even though there has been a general hiring freeze we have on-boarded more than 5000 laterals globally and we have been able to on-board them remotely. For us this is something which will become part of the new normal because this pandemic could remain for some time – on and off and remote on-boarding will probably be an element which will continue to remain going forward as well."
"We always say that we will hire for revenue, so if there is a need to hire externally we will definitely look at it. But the action that we took was a very straightforward, I would say, straight forward method of transaction that when we saw the reduction in some of our revenues, some of our own employees became available for work. And if we had a skill set which was available with which we could service our customers, we did not need the cost of the variable workforce. And therefore, we sort of reduced that variable workforce and put our own employees to service those requirements," said Wipro’s CFO Jatin Dalal.