TCS, Infosys, Wipro, HCLTech Face High Attrition Rates What Expert Say

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IT companies — Tata Consultancy Services (TCS), Infosys, Wipro and HCL Tech, among others — are facing high attrition rates

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The IT sector’s average attrition rate (last twelve months) is currently as high as 25%.

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The past few quarters have seen higher attrition rates, and the hiring has slowed.

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Experts said the primary reason for high attrition is that the growth opportunities are now relatively lesser in the IT sector as compared to other sectors.

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This week, Infosys reported voluntary attrition of 27.1% for the September 2022 quarter (Q2FY23).

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Although it was lower than the previous quarter’s 28.4%, it is higher on a yearly basis as compared with the 20.1% recorded in Q2FY22.

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HCL Tech’s attrition (last twelve months) remained at 23.8% in Q2FY23. TCS attrition rate in IT services was 21.5% during the September 2022 quarter.

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Wipro’s voluntary attrition, measured in the trailing 12 months for the quarter, was at 23%.

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Major IT companies, Infosys, Wipro and Tech Mahindra, have also revoked offer letters they extended to students after the companies are delaying the onboarding process for months

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