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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

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