IT firms reduce headcount by 3,000 people in Q1

First sequential decline in a decade as 8 of top 15 software firms report drop in manpower

For the first time in a decade, information technology (IT) companies reported a sequential decline in their employee strength in the April-June 2017 quarter. The combined headcount of the country’s top 15 listed IT companies was down around 3,000 employees, compared to the number at the end of March this year.  

The squeeze is widespread, with eight of the 15 companies in the Business Standard universe reporting a quarter-on-quarter decline in their employee strength, during the first quarter of FY18. 

In all, around 1.12 million people were working for these top 15 IT companies at the end of June