Attrition in IT companies likely to stay at 20% over recession fears

Tata Consultancy Services (TCS), in its quarterly results announced on Monday, said that the attrition in Q2FY23 was 21 per cent, it was 19.7 per cent in Q1FY23

Owing to recession fears in the West, attrition rates in IT companies may remain near 20 per cent in the coming months, as reported by Livemint.

Tata Consultancy Services (TCS), in its quarterly results announced on Monday, said that attrition rose to over 21 per cent in the second quarter of the current financial year (Q2FY23). This was 19.7 per cent in Q1FY23.

Although the company said that the attrition will taper off in the coming quarters, experts believe that macroeconomic factors will have to be taken into consideration.

Other IT majors like Wipro and Infosys will announce their quarterly