IT firms register a downfall in employee headcount, delay in salary hikes

As Infosys announced its quarterly results for the April-June period, the company also reported a decline of 6,940 employees in its workforce, taking its total employee count to 336,294. Citing data for the top four IT services companies, The Economic Times (ET) reported a net downfall of 17,335 employees compared to an addition of 52,842 employees during the same period last year.

Talking about the development, the CEO and MD of Infosys told ET, “We will look at that (hiring targets) based on what the demand environment looks like and how we see the rest of the year playing out.”