The top six information technology services companies in India reported a reduction in their total headcount in the last fiscal year, with only HCLTech adding employees. Factors contributing to this reduction include the economic slowdown, automation, restructuring, and decreased discretionary spending. The drop in headcount reflects the aftermath of excessive hiring during the Covid boom and ongoing industry contraction in demand. However, experts believe that this trend may have bottomed out, and companies could resume hiring, given the strong deal wins announced by most of them, which could push a gradual pickup in growth.
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India s largest IT services firm wants to return to a 100% work-from-office model as it believes new employees have missed out on “workplace essentials” such as mentorship, team building, and collaboration thanks to the two years of lockdowns.