<ul><li>Indian IT giants, including TCS, Infosys, HCL Tech, and Wipro, have reduced employee hiring over the last four quarters due to a demand slowdown and lower attrition levels following excessive pandemic-driven hiring, reports ICRA.</li><li>Despite this, the average last twelve-month attrition for IT companies has dropped to 14% in September 2023 from 23% a year ago.</li><li>The COVID-19-induced digitization demand initially led to record hiring, but macro-economic challenges in the US and Europe have slowed growth.</li><li>ICRA expects muted hiring in the next two-three quarters as companies focus on profitability amid lower revenue growth and global uncertainties.</li></ul>

Hiring in IT sector to remain slow in 2-3 quarters, says report

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