IT leaders Infosys, TCS kick off Q3 earnings season with weak numbers

India’s information technology (IT) leaders have once again sent out a signal that the macro environment is tough and that their clients are spending cautiously.

Kicking off the earnings season on Thursday, the third quarter results of Tata Consultancy Services (TCS) and Infosys reflected the slowdown in the global markets. While attrition has been contained, addition in the workforce has been negligible. Between the two firms, over 11,000 people have left the firms with no substantial addition.