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<ul><li>Bengaluru-based IT services company <keyword id="10862" type="General" weightage="20" keywordseo="wipro" source="Orion">Wipro</keyword> now requires some freshers to clear Project Readiness Programme (PRP) or face termination.</li><li>Wipro has reportedly asked those freshers to undergo the PRP who had agreed to accept a lower package of ₹3.5 lakh per annum compared to ₹6.5 lakh it offered earlier.</li><li>This has attracted the ire of Pune-based union Nascent Information Technology Employees Senate (NITES), whose president has called it ‘unethical, unfair and unjust’.</li><li>Business Insider India has obtained a copy of Wipro PRP that outlines the exact process freshers will have to undergo.</li></ul>Bengaluru-based IT services company Wipro now requires some freshers to clear Project Readiness Programme (PRP) or face termination, according to a document seen by Business Insider India. Wipro will apply PRP to candidates who had opted for a lower package of ₹3.5 lakh per annum, from the initially promised ₹6.5 lakh per annum. For context, Wipro in February slashed the annual compensation for freshers who had already undergone the company’s ‘Velocity’ training programme to ₹3.5 lakh from ₹6.5 lakh per annum. At the time, Wipro blamed the “changing macro environment” and “business needs”. Business Insider India has obtained a copy of the document detailing Wipro’s Project Readiness Programme, which details the contours of the programme. “Project Readiness Programme is a programme offered by Talent Transformation to all campus and off-campus hires referred as NGAs (next-generation associates). The broad objective of PRP is to equip NGA with the necessary knowledge and skills that will enable them to start working on customer projects,” the PRP document says. This has attracted the ire of Nascent Information Technology Employees Senate (NITES), a Pune-based union. “Wipro's actions towards its fresher employees are unethical, unfair and unjust. The company's misleading communication and sudden changes in policy have put the future of these employees at risk,”<a href="https://economictimes.indiatimes.com/tech/information-tech/wipro-asks-freshers-who-opted-for-lower-packages-to-clear-test-or-face-termination-union-alleges/articleshow/99611099.cms"> said</a> Harpreet Saluja, NITES president. Wipro PRP also mandates that every associate in this programme will have to obtain a score of at least 60%. Failure to do so will “lead to separation action with immediate effect”, which means that the fresher will not be given a job by the company. <cmsannotation type="cmsannotation" annotationid="Up to 8 weeks of training" comment="subhead" text="Up to 8 weeks of training">Up to 8 weeks of training</cmsannotation> Wipro PRP involves up to 8 weeks of training, depending on the skillset matching criteria. The company is calling it ‘Technology Readiness Training’ (TRT). In addition to this, all candidates are also required to work on a capstone or business-oriented project for 1-2 weeks. Once completed, candidates will have to present their projects and also answer questions orally. The training programme duration ranges from anywhere between 4 to 8 weeks, with the training done either via e-learning or an instructor. Associates are required to complete their allotted projects during this course, only after which they will be allowed to proceed for the final assessment. <cmsannotation type="cmsannotation" annotationid="Assessment test with negative marking" comment="subhead" text="Assessment test with negative marking">Assessment test with negative marking</cmsannotation> The final assessment consists of multiple-choice questions (MCQ) and logic building programme for programming languages, with both the categories carrying equal weightage. Candidates will get an hour for each category, and MCQs will attract negative marking of 0.25 per question for wrong answers. Only those candidates with a minimum score of 60% marks will be eligible for selection, and those who fail to score 60% will be terminated. All candidates will be given three attempts to clear the programme. Wipro is scheduled to announce its Q4 earnings on April 27. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/rils-q4-performance-keeps-brokerages-bullish-on-the-companys-prospects/articleshow/99725935.cms">RIL’s Q4 performance keeps brokerages bullish on the company’s prospects</a> <a href="https://www.businessinsider.in/business/corporates/news/reliance-industries-q4-net-profit-of-19299-crore-beats-analyst-expectations-driven-by-retail/articleshow/99673940.cms">RIL’s Q4 net profit of ₹19,299 crore beats analyst expectations, driven by retail</a> <a href="https://www.businessinsider.in/business/corporates/news/itc-has-had-a-dream-run-in-fy23-and-heres-why-theres-more-juice-left-in-the-stock/articleshow/99662367.cms">ITC has had a dream run in FY23 and here’s why there’s more juice left in the stock</a>

Wipro wants some freshers to clear this new programme or face termination

<ul><li><keyword id="19906778" type="General" weightage="100" keywordseo="Infosys" source="keywords" meta.keywordsubtype="org" meta.entityname="Infosys" meta.hostid="261" meta.entityid="Infosys">Infosys</keyword> has delayed hiring of 2000 young professionals</li><li><keyword id="20033579" type="General" weightage="20" keywordseo="NITES" source="keywords" meta.keywordsubtype="org" meta.entityname="NITES" meta.hostid="261" meta.entityid="NITES">NITES</keyword> has filed a complaint in the matter</li><li>Infosys is also making headlines for its new Power Programme</li></ul> The Nascent Information Technology Employees Senate (NITES), a Pune-based <keyword id="22859482" type="General" weightage="20" keywordseo="IT-employee-union" source="keywords">IT employee union</keyword>, has filed a formal complaint with the Ministry of Labour and Employment against Infosys. The union alleges that Infosys has delayed the <keyword id="22570539" type="General" weightage="20" keywordseo="onboarding-process" source="keywords">onboarding process</keyword> for around 2,000 <keyword id="22859483" type="General" weightage="20" keywordseo="fresh-engineering-graduates" source="keywords">fresh engineering graduates</keyword> for over two years, leaving them in a state of uncertainty and distress. <h2>Infosys delayed freshers' onboarding for more than two years</h2>According to NITES, these graduates were selected for roles such as system engineer and digital specialist engineer as early as April 2022. Despite receiving offer letters, the onboarding process has been repeatedly postponed. The affected graduates were required to participate in unpaid pre-training programs and undergo additional, unexpected assessments, further complicating their entry into the workforce. NITES claims that despite fulfilling all the prerequisites set by Infosys, these young professionals have been kept in limbo, leading to significant frustration and anxiety. The union views this situation as a serious breach of trust by Infosys, which has long been regarded as one of the pillars of India’s IT industry. Harpreet Singh Saluja, President of NITES, expressed deep concern over the situation, emphasizing the broader implications for the Indian IT sector. “We believe that this is not just a breach of trust by one of India’s largest IT companies, but also a significant issue that impacts the future of our country’s <keyword id="22360158" type="General" weightage="20" keywordseo="IT-workforce" source="keywords">IT workforce</keyword> and economy. We are calling on the government to take immediate and strict action against Infosys to ensure that such exploitative practices are halted and that the rights of these young professionals are protected,” Saluja said, according to a report by The Economic Times. The complaint filed by NITES highlights that even after long delays, the graduates were asked to participate in an unpaid virtual pre-training program from July 1 to July 24, 2024. They were promised final joining dates of either August 19 or September 2, 2024. However, despite completing the training, they were informed that they would need to retake the exam offline, once again without pay. This has only added to their frustration and uncertainty about their future with the company. <h2>Infosys’ Power Programme</h2>In a contrasting development, Infosys is also making headlines for its recent campus placement drive, where it has introduced a new 'power programme.' According to a report by The Times of India, the company is offering pay packages of up to Rs 9 lakh per annum to select colleges, a significant increase from its standard entry-level packages, which typically range from Rs 3-3.5 lakh. This move is seen as part of Infosys’ strategy to attract highly specialized talent in areas such as coding, software development, cloud computing, AI/ML, and cybersecurity. Infosys plans to hire between 15,000 and 20,000 graduates in FY25. During its earnings call last month, Infosys announced plans to resume campus placements and off-campus fresher hiring in the current fiscal year. The top four IT firms in India are expected to collectively add about 82,000 freshers in FY25. Among them, HCLTech and <keyword id="19945574" type="General" weightage="20" keywordseo="wipro" source="keywords">Wipro</keyword> plan to hire 10,000 and up to 12,000 freshers, respectively. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/work-life-balance-is-a-myth-photo-of-man-working-in-front-of-momo-stall-goes-viral-internet-reacts/articleshow/112516510.cms" data-type="tilCustomLink" target="_blank">'Work-life balance is a myth’: Photo of man working in front of momo stall goes viral, Internet reacts</a> <a href="https://www.businessinsider.in/tech/article/arrange-or-love-marriage-debate-is-passe-people-are-now-marrying-their-ai-partners/articleshow/112522764.cms" data-type="tilCustomLink" target="_blank">Arrange or love marriage debate is passe, people are now marrying their AI partners</a>

Infosys delays onboarding of 2,000 graduates for more than 2 years, NITES files complaint

<ul><li><keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>’s top IT sector companies have reduced their headcount by 75,000 in the last one year.</li><li>New GCCs setting-up operations in India might have hired a similar number of <keyword id="19913553" type="General" weightage="20" keywordseo="tech" source="keywords">tech</keyword> talent, say experts.</li><li>Even with renewed hiring, IT sector hiring as a whole suffered even as software product company hiring went down in the last 12 months.</li><li>In 2024, hiring intent in the IT sector increased only 3%, even as overall hiring intent is at 19%, says Taggd. </li></ul>Headcount in the top IT services firms in India is down by 75,000 in the last one year. However, experts say that there is no large-scale furore over joblessness in the system due to the extensive hiring undertaken by global capability centers (GCCs). Many new GCCs are setting-up shop in India, which is giving a much-needed push to sluggish tech talent intake by IT services companies. Six out of eight IT bellwethers like TCS, Infosys, Wipro, LTI Mindtree, Cognizant and Tech Mahindra saw their headcount go down in the last 12 months, as per Xpheno, a staffing services company. HCL and LTTS however moderately added 2,400 and 1,600 people to their rolls. (See Table below). Top 8 IT cos headcount &amp; net additions as of Q3 FY24 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Headcount </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12-month net additions </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,40,234 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-21,875 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3,22,663 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-24,182 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">TCS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6,03,305 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-10,669 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">HCL </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,24,756 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2,486 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">LTI Mindtree </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">82,471 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3,991 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">LTTS </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,46,250 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-10,812 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Cognizant </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3,47,700 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-7,600 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">19,90,677 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-75,000 </td></tr></tbody></table> Source: Xpheno With this degrowth, collective headcount of the cohort has dropped to nearly the levels seen in early 2022. “The calendar year of 2024 too has begun with a rollback of headcounts to a pre-two year level, in what is clearly a cycle of sustained adversities the IT services cohort is dealing with,” said Kamal <keyword id="20519296" type="General" weightage="20" keywordseo="karanth" source="keywords">Karanth</keyword>, co-founder of Xpheno. GCCs: The bright spot It’s not just IT services companies are cutting down hiring, job demand in software companies saw massive drop along with startups. But there is one bright spot in the tech market which is GCCs. “GCCs had recruited similar numbers (around 60,000) in the last one year, and that’s why we do not see a bloodbath on the streets. Around 100-110 GCCs set-up shop in India in the last two years, and 60 of them came in the last one year itself,” Karanth tells Business Insider India. GCCs are international companies which set-up shop in India, which takes care of activities like business support functions, back-office tasks, IT infrastructure and more. Since they kick-off operations, most of them hire anywhere between 500-2,000 people. GCCs have now become one of the six top sectors which hire tech talent that includes IT services companies, software product companies, startups, consulting firms and non-tech sectors which hire tech talent. GCCs, IT services and software product companies are the three sectors which hire techies in large numbers “Among the three, only GCCs will continue to hire in 2024, while IT services and software product companies will see at least two muted quarters ahead,” says Karanth. Going by their enthusiastic uptake of office spaces, they seem to be intent on hiring in large numbers. As per a Colliers report, office space uptake of around 30 mn square feet with large deals (of over 100,000 sq ft) have shown an impressive 24% annual growth in 2023. Almost 40% of the large deals in the top six cities have come from GCCs, particularly from technology and BFSI sectors. “More than half of the large GCC deals achieved closure in the last quarter of 2023, indicating renewed momentum in GCC activity in the country. Large pool of talent, cost-effective rentals, adequate Grade A developments and favorable office market ecosystem will continue to uphold India’s vantage positioning from a capability centre perspective,” said <keyword id="20454099" type="General" weightage="20" keywordseo="vimal-nadar" source="keywords">Vimal Nadar</keyword>, senior director and head of research, Colliers India. Tech hiring to remain sluggish With only one of its sub-sectors keen on hiring, the IT sector’s recruitment outlook as a whole has come down. As per a report by Taggd, the IT sector’s hiring intent for 2024 increased by 3%. The overall hiring intent across all the sectors however increased 19% for the current calendar year. Job demand in the last 2 years <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sector </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jan 2022 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jan 2023 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jan 2024 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2-year change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IT services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,29,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">65,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">50,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-35% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Software Product </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,00,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">32,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">22,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-61% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Startups </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">44,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-73% </td></tr></tbody></table>Source: Xpheno The slowdown in IT hiring is pronounced in the earnings reports of recruitment firms as well. Info Edge which houses many internet-related businesses like <keyword id="20577913" type="General" weightage="20" keywordseo="naukri" source="keywords">Naukri</keyword>, 99acres.com etc saw its revenues from the recruitment grow only by 3.1% year-on-year in Q3 FY24 due to sluggishness in IT sector hiring. “While the non-IT hiring sector remained robust, the continued slowdown in IT hiring impacted Naukri's growth,” Hitesh Oberoi, managing director and CEO of Info Edge said in the press release. Most large IT sector companies are only expected to do replacement hiring for the next few quarters, with a dull outlook for most. The sector’s sluggish hiring will impact engineering graduates the most as fresher hiring will be impacted. “As many as 9 lakh engineering graduates pass out every year. They will see a major impact and see the biggest hit,” Karanth adds.

IT bellwethers slash headcount in FY24 but Indian techies find a home with GCCs

<ul><li>TCS, Infosys, Wipro are the top three information technology firms in the Indian market with over 11 lakh professionals working for the companies.</li><li>The entire IT sector has been witnessing a talent war with a high number of employees leaving the organisation for the last one year.</li><li>As a result, these firms have been hiring aggressively to make up for those leaving. Let’s see how much has changed in one fiscal year.</li></ul>For the last one year, the India’s as well as global information technology (IT) sector is going through a talent war to retain employees from leaving the organisations and spend millions on frequent promotions. While this has burnt a hole in the pocket of these technology firms, it has created tons of job opportunities for freshers graduating out of universities. Tata Consultancy Services (TCS), Infosys, Wipro are the top three information technology firms in the Indian market with over 11 lakh IT professionals working for the companies. Tata Group company TCS is the top IT firm in the industry with highest market capitalisation and biggest staff count. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top three IT firms </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hiring done in FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total no of employees </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Consultancy Services </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.03 lakh </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">6 lakh </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">85,000 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3.14 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Wipro </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">45,416 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2.43 </td></tr></tbody><tbody></tbody></table>The companies have been hiring aggressively to tame high employee attrition rate. Employee attrition rate is the measure of employees who have left voluntarily or involuntarily over a period of time. Rate of employees leaving the organisation is highest in Infosys, second highest at Wipro and then at TCS. The management at TCS feels that the attrition rate is <a href="https://www.businessinsider.in/tech/enterprise/news/techies-will-continue-to-leave-tcs-at-a-higher-rate-for-a-few-more-quarters-and-later-cool-off/articleshow/90783480.cms">cooling off </a>and may come down after a few quarters. <div type="image" title="tcs, infosys, wipro attrition rate" height="900" width="1200" msid="91184456" hostid="261"></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/wipro-to-double-fresher-intake-this-year-promotions-to-be-faster-as-employees-are-still-jumping-ship-in-hordes/articleshow/91181367.cms">Wipro to double fresher intake this year, promotions to be faster as employees are still jumping ship in hordes</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/ahead-of-lic-ipo-paytm-money-opens-bids-of-up-to-5-lakh-through-upi/articleshow/91182034.cms">Ahead of LIC IPO, Paytm Money opens bids of up to ₹5 lakh through UPI</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/top-five-experts-to-learn-investing-in-us-stocks-from/articleshow/91182037.cms">Top five experts to learn investing in US stocks from</a>

TCS, Infosys, and Wipro hired 2.33 lakh employees in FY22 to tame high attrition

<ul><li>Wipro announced seven major deal wins in the past 12 months in the more than $100 million category.</li><li>The IT services major also suggested that it is steady on the path of $10 billion annual revenue run rate.</li><li>Wipro also revealed that it now has the highest number of large clients yet.</li></ul>Wipro’s management guidance for the March quarter is that the revenue from its IT services business to grow 2-4%. That’s better than the 1.9% growth clocked in the December quarter. Since companies like Wipro, TCS, and Infosys export software, and earn in dollars, pounds or euros, they report growth in constant currency terms, which is adjusted for foreign exchange fluctuations. Wipro ADRs (American Depository Receipts) were down by 1.5% as of 5:30 p.m., today (January 12). In its exchange filing, <keyword id="597306" type="General" weightage="20" keywordseo="wipro-ceo" source="Orion">Wipro CEO</keyword> and Managing Director Thierry Delaporte said that the company added seven new customers, each bringing in revenues of over $100 million, in the past 12 months, the highest yet. “We are also excited to have completed the acquisitions of Edgile and LeanSwift Solutions in the quarter, both of which will add to our capabilities significantly,” Delaporte added. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Dec-21 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sept-21 </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.9978225000000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Performance </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IT services revenue </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$2.66 billion </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">$2.61 billion </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.9978225000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3% </td></tr><tr><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,972 crore </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,997 crore </td><td style="border-left:solid #000000 0.6260872500000001pt;border-right:solid #000000 0.6260872500000001pt;border-bottom:solid #000000 0.6260872500000001pt;border-top:solid #000000 0.6260872500000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-1% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table> Source: Company reports, $ in constant currency terms The Bengaluru-based IT company reported a 29.6% growth in its revenue, year-on-year, while IT services margin remained strong at 17.6%. <div type="image" title="Wipro IT services revenue $ CC - Q3 FY22." msid="88856195" hostid="261" caption="&amp;lt;p&amp;gt;Wipro&amp;#39;s IT services revenue over the past eight quarters&amp;lt;/p&amp;gt;"></div> <cmsannotation type="cmsannotation" annotationid="New large deals in the quarter – from healthcare to waste management and more" comment="subhead" text="New large deals in the quarter – from healthcare to waste management and more">New large deals in the quarter – from healthcare to waste management and more</cmsannotation> Wipro stated that it has signed new deals across various industries, including healthcare, waste management, manufacturing and more. In its IT services segment, Wipro signed up clients across healthcare, manufacturing, retail brokerage, and hospitality sectors, all of which are US-based. In its Digital services segment, the company signed up a Brazilian water and waste management company, apart from three other US-based clients to enhance their cloud security and digitisation programs. The company’s board has also declared an interim dividend of ₹1 per share. <cmsannotation type="cmsannotation" annotationid="Omicron forces Wipro to close its offices globally for the next four weeks" comment="subhead" text="Omicron forces Wipro to close its offices globally for the next four weeks">Omicron forces Wipro to close its offices globally for the next four weeks</cmsannotation> The relentless surge of the Omicron variant of Covid-19 has forced Wipro to close its offices globally for the next four weeks. The company CEO Delaporte stated that the return to offices would be re-calibrated based on the evolving situation of the pandemic. SEE ALSO: <a href="https://www.businessinsider.in/careers/news/wipro-plans-to-hire-30000-freshers-in-2023-as-attrition-rate-increases-to-22/articleshow/88855676.cms">Wipro increases hiring plan to 30,000 as attrition hits a new high</a> <a href="https://www.businessinsider.in/tech/enterprise/news/infosys-saw-its-revenue-grow-by-7-in-q3-fy22/articleshow/88855661.cms">Infosys raises full year guidance after the best quarter in at least eight</a>

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