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Indian IT Remains Cautious with Freshers and Hikes This Year
- Indian IT firms like TCS, Infosys, HCLTech, Wipro, and Tech Mahindra are cautious with freshers and hikes amidst uncertainties, as seen from their Q4 FY25 earnings calls.
- Salary hikes and hiring at these companies are being approached carefully, potentially leading to smaller pay hikes or delays for employees in the current fiscal year.
- TCS and Wipro have deferred decisions on increments, citing macroeconomic uncertainty, while HCLTech remains on its traditional October cycle for salary hikes.
- Infosys, HCLTech, Wipro, and Tech Mahindra have improved operating margins in FY25, prioritizing profitability amidst caution.
- Amidst uncertainties, hiring plans are cautious, with TCS considering matching or exceeding the 42,000 campus hires made in FY25, and HCLTech planning to hire at least 2,000 freshers every quarter.
- Indian IT firms have managed to expand their workforce despite challenges, with varying approaches to hiring freshers in the current climate.
- The impact of generative AI on hiring cycles is disputed, with TCS claiming no influence, while attrition rates have increased in the industry, possibly due to competition from GCCs and other clients.
- Indian IT firms have reduced bench sizes and durations in response to slowing revenue growth, pushing utilisation rates higher, which may pose challenges for professionals.
- The current environment poses uncertainties on how Indian IT will proceed in terms of hiring freshers and granting hikes in the upcoming year, bringing caution and strategic planning to the forefront.
- Recent developments in the Indian IT industry reflect the complexities and challenges faced by companies in balancing operational decisions with market dynamics and external pressures.
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