COVID-19 impact: Tech Mahindra's headcount falls by 2,000 for June 2020 quarter

The drop in headcount a combination of voluntary and involuntary attrition.

Swathi Moorthy

July 27, 2020 / 20:20 IST

India's top IT firm Tech Mahindra’s headcount fell by 2,000 both for the quarter ended June 30, 2020, compared to the previous quarter.

The company employs close to 1,23,416 people.

Speaking to media persons after the results announcement, Manoj Bhat, Chief Financial Officer (CFO), Tech Mahindra, said, “There has been some natural attrition during the quarter. We obviously have performance-based reviews around this time. Combination of these two has brought the headcount down.” However, he did not share hiring numbers for Q1 or outlook for FY21.

Attrition fell down from 21 percent in Q1 FY20 to 17 percent for Q1 FY21. For the quarter ended March 2020 attrition was 19 percent.

In addition, the company’s total employee count has been coming down by over the last three quarters. From September 2019 till June 2020, the employee count dropped by 7,423.

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