In the second quarter of the fiscal year 2025 (July to September 2024), India's top five IT services firms—Tata Consultancy Services (TCS), Infosys, HCLTech, Wipro, and LTIMindtree—collectively added 9,404 employees to their workforce. This marks a significant turnaround from the previous quarter, which saw a net decline of 4,483 staffers.
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TCS (Tata Consultancy Services):
TCS reported a net addition of 5,726 employees in Q2 FY25, building on the 5,452 additions from the previous quarter. This consecutive growth follows a period of headcount decline over three quarters. Milind Lakkad, TCS's Chief HR Officer, noted that the company welcomed 11,000 associates in the first half of the year and is on track with trainee onboarding as planned. The campus hiring process for FY26 has also commenced, indicating a forward-looking recruitment strategy.
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Infosys:
Infosys achieved a net addition of 2,456 employees in Q2 FY25, a substantial recovery from a reduction of 1,908 employees in the previous quarter. The company is on track to onboard 15,000 to 20,000 freshers in FY25. Additionally, Infosys plans to implement wage hikes gradually in Q3 and Q4, with its margin guidance of 20-22% accounting for this aspect.
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HCLTech:
HCLTech continued to experience a decline in headcount, though the reduction was less severe than in the previous quarter. The company reported a net decrease of 780 employees in Q2 FY25, following a reduction of 8,080 employees in Q1.
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Wipro:
Wipro's headcount decreased by 502 employees in Q2 FY25, reversing the net addition of 337 employees in the previous quarter.
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LTIMindtree:
LTIMindtree reported a net addition of 2,504 employees in Q2 FY25, a significant increase from a reduction of 284 employees in the previous quarter. CEO and Managing Director Debashis Chatterjee stated that the significant Q2 hiring, including freshers, positions the firm well as it enters the latter half of the fiscal year.
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Industry Outlook:
The positive shift in tech hiring reflects a broader recovery in the IT services sector after a cautious period. Analysts had anticipated a 4-6% increase in hiring for Q2 FY25 compared to the previous quarter, with Global Capability Centers (GCCs) playing a pivotal role in driving this demand. This resurgence is attributed to global banks reviving projects that were previously on hold due to economic uncertainty and high borrowing costs. The Indian IT sector, which derives about a third of its revenue from banking, financial services, and insurance (BFSI) clients, stands to benefit from this renewed spending.
Reuters
Future Projections:
Leading Indian IT firms are planning substantial fresher recruitment in FY25. TCS aims to hire nearly 40,000 freshers, Infosys plans to onboard 15,000-20,000, HCLTech intends to recruit over 10,000, and Wipro looks to hire around 10,000-12,000 employees during the fiscal year. Tech Mahindra has also indicated plans to hire 6,000 freshers.
Economic Times
This hiring momentum underscores the industry's confidence in sustained demand for IT services and a commitment to nurturing new talent to meet evolving technological needs.
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