India's IT Firms Tighten Wage Belts Amid Slowdown

• India's top IT firms are controlling people costs amid a global slowdown.
• Middle and senior executives are being replaced by junior employees, with upskilling investments accounting for 5-7% of costs.
• Wage costs for TCS, Infosys, and HCLTech have declined, while Wipro saw a slight increase.
• Attrition rates have risen slightly across major firms.
• Future hiring remains uncertain, influenced by global events and market conditions.

Source: Mint, Mint