Hiring at top IT firms rises fourfold in 2018
India’s top 10 information technology (IT) companies added 114,390 engineers to their workforce in 2018, a more than four-fold increase from the previous year. While the numbers are the best in five years, few are predicting a similar showing in 2019.
Much of the jobs added in 2018 may have been because of increased hiring in the US under pressure from the Donald Trump administration and customers outsourcing large contracts on the condition that the vendors absorb some of their employees, two human resources (HR) executives said.
Although none of the companies disclosed details of hiring in the US or the number of employees absorbed from cli- ents, the HR executives claimed that at least half of the net hiring made by companies in 2018 is on account of one of these two reasons.
The top five IT firms—tata Consultancy Services Ltd, Cognizant Technology Services Corp., Infosys Ltd, HCL Technologies Ltd and Wipro Ltd—added 99,010 employees last year to take their workforce to about 1.23 million as against an addition of 19,360 people in 2017, according to an analysis by Mint.
The rest of the top 10—Tech Mahindra Ltd, Larsen & Toubro Infotech Ltd, Mindtree Ltd, Cyient Ltd and Zensar Ltd— added just 15,380 engineers compared with 2,796 in the previous year.
India’s $167 billion software services industry employed 3.7 million people at the end of