Infosys and LTIMindtree lead IT hiring turnaround at India’s top 5 five tech firms in Q2
This quarter’s hiring numbers indicate a significant improvement in tech services hiring that remained lull for at least the past seven quarters. While the trend is not the same across the board, it’s been better for most of these IT services companies, except for Wipro and HCLTech.
TCS, Infosys, and LTIMindtree saw a net increase in their headcounts whereas Wipro saw a reversal of the previous quarter and HCLTech continued to see a drop but the magnitude was much less.
| Net increase in headcount | ||
| Q1 FY25 | Q2 FY25 | |
| TCS | 5452 | 5726 |
| Infosys | -1908 | 2456 |
| HCLTech | -8080 | -780 |
| Wipro | 337 | -502 |
| LTIMindtree | -284 | 2504 |
The trend is a mixed bag when compared with what analysts CNBC-TV18 spoke to had indicated. Krishna Vij, Business Head- TeamLease Digital, had said before the release of the earnings report had said, as per industry data, Major IT services firms reported a 4-6% increase in hiring for Q2 FY25 compared to the previous quarter, with GCCs continuing to play a pivotal role in driving this demand.
“Over the past quarter, we’ve seen a positive shift in tech hiring, especially after companies maintained a more cautious outlook in earlier quarters,” Vij had said.
Why Infosys and LTIMindtree standout is the fact that in the June 2024 ended quarter, the two companies had seen their headcount decline by 1908 and 284 employees, respectively. But, in the September ended quarter, these two saw a massive pick up and saw net hiring of 2456 and 2504 staffers.
LTIMindtree’s Chief Executive Officer and Managing Director Debashis Chatterjee said that significant Q2 hiring, including freshers, positions the firm well as it enters into the latter half of the fiscal year.
Infosys also mentioned that it is on track to onboard 15,000- 20,000 freshers in FY25, and added that wage hikes will be rolled out gradually in Q3 and Q4 and margin guidance of 20-22% has that aspect factored in.
TCS, on the other hand, saw a net increase in the total number of employees for the second consecutive quarter in a row, after its headcount declined in the preceding three quarters.
Milind Lakkad, TCS Chief HR Officer also said that the firm welcomed 11,000 associates in the first half of the year, and remains on track for trainee onboarding as planned.
“We have also commenced the campus hiring process for FY26. Our strong talent base and increased learning intensity prepares us well for the complex technology transformations that customers entrust us with,” he said.
