Infosys, Wipro & TCS lose over 1,00,000 people in last four quarters as automation kicks in
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BENGALURU | MUMBAI: India's $146-billion information technology (IT) industry is consistently haemorrhaging more people than ever before, even as the sector and large companies such as Tata Consultancy Services(TCS) and Infosys achieve greater size and scale with each passing year.
Over the last four quarters, India's largest software exporters TCS, Wipro and Infosys combined have lost roughly over 100,000 people between them, ET's analysis shows.
Gross addition for the three combined stood at roughly 150,000, while net addition was between 40,000 to 50,000.
According to at least two CEOs of India's top 10 outsourcing firms, metrics like gross addition of employees are becoming increasingly irrelevant and companies are also strategically starting to manage attrition, amid the advent of automation and emergence of newer technologies such as cloud computing.
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