job cuts: Top IT companies cut over 72,000 jobs in FY24
ETtech.com -

Once known for hiring hundreds of thousands every year, five of India’s top six information technology services companies reported a reduction of 73,600 in their total headcount in the last fiscal yearHCLTech, the third largest, was the only exception among the top six, as it added 1,537 employees in the year ended March 31, even as Tata Consultancy Services, Infosys, Wipro, Tech Mahindra and LTIMindtree reported a fall in their headcount. After accounting for the addition at HCLTech, the...

In related news

  • Trib Total Media: UPMC Cutting 1,000 Jobs

    Trib Total Media of Pittsburgh reports UPMC is cutting 1,000 jobs because of post-pandemic challenges. Vice President and Chief Communications Officer Paul Wood said the reductions will impact just over 1% of UPMC’s more than 100,000-member workforce systemwide. He said layoffs primarily are taking place among non-clinical, administrative staff who don’t deal directly with patients. […]

  • India's top 3 IT companies see exit of 64,000 employees in FY23-24

    India's largest IT services companies Tata Consultancy Services, Infosys and Wipro saw a staggering 64,000 employees exiting in FY24, amid a weak demand environment globally and tighter tech spends by clients. Wipro, which announced its Q4 earnings on Friday, reported a fall in headcount numbers to 2,34,054 as of March 2024, against 2,58,570 in the year-ago period. Headcount declined by 24,516 during the financial year ended on March 2024. immediate headcount reduction has happened primarily...

  • Google layoffs: Company announces second major round of job cuts in 2024 saying ‘change is difficult’

    Google layoffs: Tech giant Google announced major restructuring plans that could result in some employees getting fired, as per a report. Ruth Porat, chief financial officer at Google, sent a memo to employees informing them about company’s new plans, CNBC reported. What memo said on Google's restructuring plans?Ruth Porat wrote in the memo as per the report, “The tech sector is in the midst of a tremendous platform shift with Al. As a company, this means we have the opportunity to make more...