"India's big four outsourcers - HCL, Infosys, TCS and Wipro - have essentially stopped hiring, perhaps coinciding with their increased use of AI to power their practices. The four companies have all announced quarterly results in the last ten days and appear to be in decent health. HCL reported $3.8 billion revenue, up 7.4 percent year over year. Infosys pulled in $5.1 billion, up 1.7 percent year over year."
"India's top tech companies often hire more than 10,000 people a quarter, a rate of recruitment that more-than offsets attrition and sees their headcounts rise substantially. Wipro increased its payroll by 6,500 people last quarter and Infosys hired 5,000 more - muted growth by their standards - while TCS and HCL went backward by 11,000 and 261 people respectively. Over the last year, the four companies added just 3,910 staff, an unusually slow rate of hiring."
"Perhaps coincidentally, all four companies told investors they're using more AI to deliver services for clients, either by adopting the technology to streamline their own work or by adding it to the tools they deliver to customers. Infosys has gone meta with its efforts, by creating a tool that uses AI to create Global Capability Centers, the company's term for offshored and/or outsourced operations it runs for clients in India, that use AI to improve customers' operations."
India's four largest IT outsourcers reported modest revenue growth while substantially slowing hiring. HCL reported $3.8 billion revenue (up 7.4%), Infosys $5.1 billion (up 1.7%), TCS $7.5 billion (up 3%), and Wipro $2.6 billion (up 5.5%). Hiring fell sharply versus historical rates: Wipro added 6,500 employees, Infosys 5,000, while TCS and HCL reduced headcount by 11,000 and 261 respectively, leaving a net addition of 3,910 staff over the year. All four firms report increased use of AI in client services and internal operations, with bespoke AI tools and client demand for AI expertise driving adoption.
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