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How are employee costs trending in IT?
- Employee costs in top Indian IT companies have increased over the last four years.
- Manpower-related costs make up 60% of IT service companies' expenses.
- Employee costs outpaced revenue growth for TCS, Wipro, and HCL Technologies between 2019-20 and 2022-23.
- Wage costs as a share of revenue have increased to 55.9% in 2022-23, which is the highest in the last five years for all firms except Infosys.
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