TCS, Infosys rolls dip 35,000 in subdued Q3

Tata Consultancy Services (TCS) and Infosys, India’s top two technology services companies, reported aggregate headcount deletion of about 35,000 in the third quarter in comparison with the year-ago period, reflecting subdued client demand that doesn’t justify adding jobs just yet in the country’s most globalized and biggest forex-earning industry.

Headcount at TCS, the market leader, dropped 10,669 and that at Infosys by 24,182.

Sequentially, the combined decline was close to 11,781. This is on top of a sequential headcount dip of 13,863 in the last quarter by the two companies, which reported their third quarter financial results on Thursday and maintained a cautious outlook on the macro environment.