This year, Tech Mahindra plans to employ 6000 freshmen

This year, Tech Mahindra plans to employ 6000 freshmen

CEO Mohit Joshi said, "Tech Mahindra is adding fresh graduates steadily and we are continuing on our path of absorbing 1500+ fresh graduates every quarter."

IT services leader Tech Mahindra said on April 25 that it would hire 6,000 new hires in the fiscal year 2025, against a general industry pattern in which rivals are reluctant to disclose their precise employment goals for the year due to a challenging economic climate and unpredictability in demand.

For the fourth quarter that concluded on March 31, Tech Mahindra saw a sequential decrease of 795 workers in its overall workforce. Nonetheless, its personnel decreased by 6,945 throughout the course of FY24.

The IT firm has seen a decline in its workforce for the whole year for the second time in its history during this financial year. In FY18, it had already disclosed a decrease in headcount for the whole year.

During the results conference, Tech Mahindra's MD and CEO, Mohit Joshi, said, "We are seeing a reduction in headcount that is in line with the volume of business we are seeing." But we are a firm that is consistently hiring recent grads, and we want to keep up our current pace of hiring more than 1500 new hires per quarter, or 6,000 new hires annually."

"Under the leadership of the new Chief Learning Officer, we are also constructing an extensive training program for these new hires. We are expanding our workforce by hiring new people," he said.

Only TCS has said that it intends to employ around 40,000 freshmen in FY25, apart from Tech Mahindra.

As part of its plan to turn around its business by 2027, Tech Mahindra intends to educate and deploy a larger number of early career and younger employees. During the April 25 analyst call, CFO Rohit Anand said that this would assist with margin improvement.

See also: Tech Mahindra Q4 results: Revenue falls by 6.2% as net profit falls 40.9% YoY to Rs 661 crore.

Competitors TCS, Infosys, and Wipro also revealed a decrease in headcount for the whole year in FY24; this was a first for Infosys and TCS in their histories.

Wipro gained 24,516 fewer workers in FY24, Infosys' workforce decreased by 25,994, while TCS' headcount decreased by 13,249 for the whole year.