Stay updated with breaking news from Top it companies. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
The top six information technology services companies in India reported a reduction in their total headcount in the last fiscal year, with only HCLTech adding employees. Factors contributing to this reduction include the economic slowdown, automation, restructuring, and decreased discretionary spending. The drop in headcount reflects the aftermath of excessive hiring during the Covid boom and ongoing industry contraction in demand. However, experts believe that this trend may have bottomed out, and companies could resume hiring, given the strong deal wins announced by most of them, which could push a gradual pickup in growth. ....
In a recent report, the global financial services firm downgraded major Indian IT firms, while only Wipro found a positive spot in Goldman Sachs's ratings. Read more to know why. ....