IT services major Tech Mahindra, on April 25, announced that it will be hiring 6,000 freshers in the financial year 2025, bucking the industry-wide trend as most peers are shying away from sharing exact fresher hiring targets for the year amidst a tough business environment and demand uncertainty.
Tech Mahindra's total headcount for the fourth quarter ended March 31 saw a decline of 795 employees sequentially. However, for the full year FY24, its headcount was down by 6,945.
This is the second such financial year historically for the IT company that it had reported a full-year decrease in its employee base. Previously it had reported a full-year headcount drop in FY18.
Mohit Joshi, MD & CEO, Tech Mahindra, during the results conference said, "There is some reduction in the headcount that reflects the business volume that we are seeing. However, we are one company that is steadily adding fresh graduates and we are continuing on our path of absorbing 1500 plus fresh graduates every quarter - 6000 freshers being added each year."
"We are also building out an intensive program to train these freshers under the new Chief Learning Officer. We are adding headcount in terms of fresh talent," he added.
Apart from Tech Mahindra, so far only TCS has shared that it plans to hire around 40,000 freshers in FY25.
As a part of Tech Mahindra's strategy for business turnaround by 2027, the company will be focussing on building its early career and fresher workforce, to train and deploy them. This will, in turn, help with margin improvement, CFO Rohit Anand shared during the analyst call on April 25.
Also read: Tech Mahindra Q4 results: Net profit declines 40.9% YoY to Rs 661 crore, revenue drops by 6.2%
In FY24, rivals TCS, Infosys, and Wipro too reported full-year headcount decline, historically the first time for TCS and Infosys.
TCS' full-year headcount was down by 13,249, Infosys’ headcount dropped by 25,994, while Wipro added 24,516 fewer employees in FY24.
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