India's top-four IT companies have reportedly designed a robust hiring plan as they project a strong rebound in the GDP in FY22 after the lockdown lows in FY21. Tata Consultancy Services (TCS), Wipro, HCL, and Infosys plan to collectively hire at least 91,000 employees from campuses, according to reports.
In the December quarter, these top-4 IT giants added 36,000 employees against 10,820 in the same quarter in the year-ago period. In September 2020 quarter, these four IT firms hired 17,918 employees.
TCS executive VP and global head Milind Lakkad said the company is expecting to hire about 40,000 employees like last year. Infosys said it will recruit 24,000 college graduates in FY22, up from the 15,000 it planned for the current one. HCL plans to hire 15,000 freshers in India and 1,500-2,000 people on-site in FY22. The company added 4,022 freshers in the December quarter.
Wipro hired 14,000 people, including 2,900 freshers the December quarter. Saurabh Govil, Chief Human Resources Officer, Wipro, said the company has freshers and lateral hiring plans in India and globally. However, he did not disclose the number of people the company plans to hire.
Cloud computing, digital transformation, cost control, and high attrition rates could be among the various factors attributed to the surge in hiring, Moneycontrol reported.
Besides, these IT firms are expecting a high attrition rate in FY22, which may open up more jobs for freshers. They are also looking to cut costs by increasing IT outsourcing and by consolidating vendors. Such measures have resulted in the signing up of large deals.
For instance, Infosys Ltd and Wipro Ltd bagged multi-billion dollar deals from Germany's Daimler AG and Metro AG, respectively, in 2020.
TCS announced the acquisition of Postbank Systems AG (PBS) from Deutsche Bank in November last year. Under the deal, 1,500 employees of PBS would get transferred to TCS. The company also deepened strategic partnership with Prudential Financial (PFI), under which TCS would acquire staff and select assets of Pramerica systems (PFI unit in Ireland).