IT sector is losing its strength, 64 thousand jobs reduced in one year

There has been a reduction of about 64,000 employees in the country's three largest IT companies Tata Consultancy Services, Infosys and Wipro in the financial year 2023-24. The number of employees in these companies has decreased due to weak demand worldwide and reduction in technology spending by customers.

Quarterly figures of the country's three largest IT companies have been revealed. But today we will not talk about the revenue and profit of these companies. Would rather talk about jobs. For some time now, there has been a continuous decline in jobs in all three companies of the country. In the last financial year also, the number of employees in these companies has decreased by about 64 thousand. This means that 64 thousand jobs have been reduced in these companies. Due to weak demand and cutbacks, there has been a decline in jobs. Let us also tell you how many jobs have been reduced in which company at present.

How much jobs reduced in Wipro

There has been a reduction of about 64,000 employees in the country's three largest IT companies Tata Consultancy Services, Infosys and Wipro in the financial year 2023-24. The number of employees in these companies has decreased due to weak demand worldwide and reduction in technology spending by customers. Wipro, while announcing its fourth quarter financial results on Friday, said that its employee strength has declined to 2,34,054 by March 2024, from 2,58,570 at the end of the same month a year earlier. In this way, during the financial year ending March 2024, the number of employees of the company decreased by 24,516.

How much less in Infosys and TCS?

India's IT services industry is feeling pressure due to global macroeconomic uncertainties and geopolitical fluctuations. Infosys, the country's second-largest IT services exporter, said its total employee strength at the end of March 2024 was 317,240, up from 343,234 in the same period last year. In this way the number of employees of the company decreased by 25,994. The number of employees in TCS, the country's largest IT company, also declined by 13,249 and at the end of the last financial year it had a total of 601,546 employees. Wipro Chief Human Resources Officer Saurabh Govil said the reduction in headcount was primarily due to market and demand conditions as well as operational efficiency.