Net hiring by IT service majors dipped 24% during H1

Net employee addition by the top IT service providers has dropped by about one-fourth in the first two quarters of the current fiscal year and is expected to fall by almost half for the full year as the next two quarters are historically weak for the $227 billion software exports industry.

This comes as the sector is facing geopolitical turmoil in Europe and macroeconomic concerns in the United States.

Tata Consultancy Services (TCS), Infosys, Wipro and HCLTech have reported around 81,700 net headcount additions during the first half, down almost 24% from 107,616 net hires during the same time in the previous financial year, an ET analysis showed.