Oct 24, 2010

Infosys to hire 40,000, TCS to hire 50,000 in the ongoing fiscal

As growth returns to the software industry, major IT companies in India are stepping up their hiring plans for the next few quarters to meet the reviving demand in the US and European markets.

Infosys has announced plans of hiring 40,000 new employees in the ongoing fiscal, up from the earlier projection of 36,000.The largest software firm, Tata Consultancy Services (TCS) has revised its hiring plans to add 50,000 people this fiscal against earlier target of 30,000 persons.

According to chairman of Wipro, Azim Premji,"There was strong momentum in demand (during the September quarter)... While the macro-economic environment continues to remain uncertain, there is higher degree of confidence at the micro level."

According to industry body Nasscom, the Indian IT industry is estimated to have added 90,000 jobs during FY'10, taking the workforce to 2.3 million professionals. With demand for workforce returning, attrition rates have also gone up. While TCS reported an attrition rate of 14.1 per cent, Infosys saw attrition rates to the tune of 17.1 per cent for the quarter ended September 30, 2010.