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The Indian IT sector is facing headwinds due to the broader macroeconomic conditions and cutbacks on discretionary spends. Amid this another prominent trend is multiple senior level executives' exits
As per the numbers shared during the Q2 FY 2023-24 results, the 10 largest companies saw their workforce fall to 20.6 lakh people at the end of September from 21.1 lakh employees at the beginning of the fiscal year, resulting in a loss of 51,744 jobs.
The IT company usually rolls out the annual hikes to all its employees below the senior management in the month of April.
CEO Salil Parekh noted that the company witnessed its highest large deals value at $7.7 billion in Q2. He also added that clients have continued to show interest in AI products and services
Infosys performance: Infosys trims revenue growth guidance to 1%-2.5% for FY24.Infosys maintains 20%–22% operating margin guidance for the year. Infosys reports a 3.2% YoY rise in Q2 net profit to ₹6,212 crore.