Indian IT services companies have seen several CEO changes that have, over the past few months, led to some crucial exits at the mid-senior level in a trend that is likely to continue.
According to a recent Motilal Oswal report, Movement of mid-to-senior leadership at IT services firms is a reality, partially on account of multiple CEO-level changes.
Swiggy’s valuation was cut by Invesco, BYJU’S valuation was slashed by BlackRock, and Meesho’s valuation was reduced by Fidelity Investments. This cutback is also going to impact the value of the ESOPs employees at these startups are entitled to.
Indian IT companies including TCS, Infosys, and HCL Tech have reported a slowdown in hiring as well as a fall in attrition rates in the March 2023 quarter