Tech Mahindra added 2,165 employees in the first quarter ending on 30th June, aligning with its plan to increase its workforce for the fiscal year. The company hired around 1,000 freshers in Q1 and intends to engage in campus hiring to recruit 6,000 freshers for FY25. The attrition rate remained steady at 10% and showed improvement from 13% in Q1 FY24.
Most of the increase in headcount came from hiring interns in the business process services (BPS) vertical. However, there was a year-on-year decline of 677 employees, bringing the total number of employees to 147,620. On the other hand, Tata Consultancy Services (TCS) added 5,452 employees in Q1, Infosys’ headcount dropped by 1,908, Wipro added 337 employees, and HCLTech’s headcount declined by 8,080.
LTIMindtree was the exception, adding around 284 employees sequentially in the same period. Additionally, Tech Mahindra is still assessing the situation on wage hikes and has informed employees that wage increments will be postponed to the second half of the fiscal year based on the company’s performance.
