11000 employees resigned from top Indian companies in the last 90 days

Due to the impact of COVID, 11000 employees resigned from top Indian companies in the last 90 days. This is the first in recent times when the employee count of these top companies reduce drastically

11,000 employees resigned from top Indian companies in the last 90 days

Although, these companies are hopeful of hiring in the upcoming days

In the April-June quarter, India’s largest software company TCS lost 4786 employees. In the same quarter, 3138 employees resign from Infosys. While the numbers at Wipro and Tech Mahindra are at 1082 and 1820 respectively.

A cumulative of around 11,000 employees resign from all these companies. Mr.Pravin Rao, the COO of Infosys says that currently the company has stopped hiring but it already has recruited around 5000 laterals around the world.

All these new recruits are onboarded remotely. Infosys also says there are plans to bring around 20,000 freshers this year.

Meanwhile, at Wipro, CFO says that the company has enough talent for its projects. He also says that the company always looks for revenue and if there is a need to hire new talent, the company is going to hire

Also, read: Swiggy announces that more job cuts are happening

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Infosys brings over 200 employees from the US via a chartered flight

As a safety measure amid the surging cases in the USA, Infosys brings over 200 employees from the US via a chartered flight. All these employees and their families are brought to the country

Infosys brings over 200 employees from the US via a chartered flight

According to a post shared on LinkedIn by the associate vice president at Infosys, the chartered flight took off in San Fransico bring all the employees and families to Bengaluru

All the details are not disclosed by Infosys.

The employees include people working at on-site in the client locations and employees who traveled to the USA for temporary work-related purposes.

Read more: Maharashtra government plans to conduct online job fair next week

The US is the highest earner for Infosys. According to the quarterly results that ended in March, 61.6% of the company’s revenue is from the US market. Although Infosys started hiring more local people, there are few Indian employees who are working in the US under H1B visa

The company has recruited around 10,000 local employees in the last 24 months under their localization initiative

During the shareholder’s addressing, the Infosys COO says that 60% of the US employees in the company are visa independent. Last year, Infosys launches a new digital delivery center in Arizona. This is the sixth such center to meet the demand of its clients

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Which IT firm has the highest number of H1B employees?

Recently, US President Donal Trump announced a ban on H1B visas and green cards, until the end of this year. This led to companies looking to hire local talent. Let’s see which IT firm has the highest number of H1B employees

Which IT firm has the highest number of H1B employees?

Currently, there are 76,649 Indian employees working in IT firms. This includes TCS, Infosys, Wipro, Cognizant, HCL, etc.

The visa ban will not affect the current visa holders but it might lead to an increase in the rejection of the renewal rate. In 2016, the rejection rate is around 4%. It increased to 21% in 2021

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TCS is the largest holder of total employees compared to other Indian IT companies. The overall count is 54,874. Of the 40% are on visas and rest are local talent. In the visas segment, 90% are under H1B visas and rest are under L1 visas

Infosys has an overall strength of 36,228 employees working for them in the USA. Out of these, 21,737 are local staff. Just like TCS, Infosys also has 40% of the employees under visa

Cognizant also depends highly on the H1B visas. 50% of its workforce works under H1B visas. Of them, 90% are of H1B visa candidates and the rest are of L1 visas

Meanwhile, Wipro and HCL are less dependent on the visas. Only 35% of its staff work with visas. Of them, 90% are working under H1B visas and rest are L1 visa candidates.

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Infosys’s 33% staff to WFH permanently in the future

Infosys says that 33% of its staff will WFH permanently, in the future. Once the situation improves, 50% of its employees will start coming to offices. Rest of all will continue to work from home

Infosys's 33% staff to WFH permanently in the future

Gradually, Infosys looks to maintain 66% of people working from offices and 33% working from home. This might be a permanent work model for Infosys in the near future. The executive vice president and head HR of Infosys Richard Lobo announced this plan

Also, Infosys wants to rotate the people who are part of work from home. Not always the same set of people will work from home and it keeps on rotating.

Also, read: Infosys signs climate-pledge by Amazon

According to the current numbers, if 33% of the employees will start working from home it will be around 80,000 people. These are the ones who will work from home permanently.

Infosys did not commit any timeline to implement this plan. Mr.Lobo believes the timeline for implementation entirely depends on the Covid-19 recovery

Infosys believes that this work from the home model is not that tough to implement and many companies have already successfully done it. Also during the corona lockdown, this implementation is done by several companies

After the Q4 results, Infosys’s COO announced this same thing. He reiterates that there is no decrease in productivity during the lockdown, even though most of the employees are working from home

Also, read: Increase in expenses during WFH: TCS

Earlier, TCS announced that by 2025, 3/4th of its workforce will work from home permanently.

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Infosys signs climate-pledge by Amazon

Amazon and Global Optimism creates a Climate pledge. Infosys signs this climate-pledge, committing to meet the Paris agreement a 10 years earlier. The agenda of this pledge is to maintain zero carbon emissions by all the businesses by 2040. This is a decade earlier to Paris agreement which dates at 2050

The following are the agenda items agreed by the partners of the pledge.

  1. Report and measure the greenhouse gas emissions regularly
  2. Implement decarbonization strategies in line with the Paris Agreement through real business changes and innovations, including efficiency improvements, renewable energy, materials reductions, and other carbon emission elimination strategies
  3. Neutralize any remaining emissions with additional, quantifiable, real, permanent, and socially beneficial offsets to achieve net-zero annual carbon emissions by 2040.
Infosys signs climate pledge by Amazon

In 2011, Infosys voluntarily agrees to become carbon neutral. It is on the right path to reach it before 2040. Infosys is the first company to agree to this from India. Also, Infosys plans to move towards renewable sources of energy for all its uses

Read more: H1B visas integral for COVID recovery: Tech giants to Trump

Currently, Infosys has a highly successful energy program through which it is able to reduce its per-capita energy consumption by 55% since 2008. Infosys heavily invested in carbon emission reduction projects to reach this goal. Not only these benefit the climate but also support 100,000 families.

This climate pledge brings together several organizations to fight against several environmental issues. It also benefits in developing low carbon products and services. This way all the companies can achieve their goals, which are part of the pledge.

Read more: Increase in expenses during WFH: TCS

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Over the past few years, these Indian IT firms have benefitted by hiring fewer people

The top IT services providers in the country have hired fewer people over the past few years in comparison to their revenue growth across the same timeline. This indicates that companies are adopting various automation and digital technologies.

Companies like TCS, Infosys, Tech Mahindra, HCL Technologies, Wipro have increased their growth over the past few years. This has been achieved by adopting the artificial intelligence technologies, automation of tools and digital services

During the same period, the businesses of core services like application development, maintenance, and infrastructure have fallen. Analysts are saying that this can be due to using automation and other technologies for the tasks which are at the bottom of the pyramid.

India’s largest software service provider, TCS currently employs 4,48,464 employees and has seen a compounded growth of 7% in hiring. In relation, the company’s revenue has grown by 10.64% every year. Meanwhile, Infosys’s revenue growth is slightly higher than TCS at 11.23% since the financial year 2015. The company has seen an increase in hiring by 6.59% for the past 5 years

The highest disparity between revenue and hiring among the top IT service providers in the country is observed at TechMahindra with revenue growth at 10.26% and hiring is at 4% each year since FY15

Since the FY15, Wipro has seen a 3% increase in hiring every year, and the revenue of the company has grown by 5.38% for the same period. HCL is the one that has performed well in terms of revenue for the last 5 financial years. The company’s revenue has been increased by 13.77% while the hiring has seen an increase of 7.23%. In the last five years, the company has recruited around 47,000 employees which increase the overall employee count to 150,423

However, at Tech Mahindra there has been a great difference between revenue and hiring for the last 5 years. The revenue of Tech Mahindra grew at 10.26% while new employees are recruited at a rate of 4% each year. Analysts predict that this great disparity at Tech Mahindra is due to the increased number of subcontractor staff deployed in every project.

Last week during the filing to the US Securities and Exchange Commission, Infosys announced that the use of automation tools and related technologies have cut down the costs for the company. Also, this has led to the involvement of manual effort in the projects.

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Infosys reportedly planning to downsize the number of managers at senior level

Infosys’s senior management will undergo a restructuring with Infosys looking to offload managers who are working at the senior level in the company. This accounts for around 30,000 employees. It has been reported that this is being done to recover from the impact of coronavirus. The list of job profiles affected due to this are delivery managers, associate vice presidents, senior vice presidents, and more

A recent report from TOI has stated that the senior management officials who are working at levels 6,7,8 will come under this new plan. Infosys plans to remove the headcount by 15% from JL7 and above. This plan will affect nearly 13,000 officials

For Infosys and other IT giants, the employee costs, wages, campus placement drives will contribute to more than half of the operational costs of an employee. Also, this economic slowdown which has been caused due to the coronavirus has led to the termination of many projects the company has taken. This has also led to a reduction in profits for the company.

The company also said that neither there are no plans to downsize the number of employees nor do they have a predefined percentage of exits in the company. Also, it was told that as Infosys is a performance-driven company, some involuntary action needs to be taken to reduce the costs.

The current hierarchy in the company is that delivery managers report to senior delivery managers, who in turn report to the delivery head. The overall delivery team again reports to the service head. This had led to an increase in the number of managers at the senior level.

Hence the company is looking to trim down the number of managers. The company is also expecting that this will accelerate the decision-making process and reduce the operational costs per employee. The salaries at the senior level are very high with most of the senior-level managers earn Rs.35-40 lakh. The VP, SVP officials earn higher than this.

Also, the company had said that the annual remuneration for the executive employees at the senior level has been increased by 25% in FY20. In the latest earnings call, the company has announced that all the hiring, promotions, appraisals have been frozen until further notice and the company calls this a ‘no-regret’ move

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‘Marginal impact on Profits’ for Infosys due to the impact of COVID19. Salary of CEO at $6.15 million

Infosys has recently said that the business has been marginally impacted on profits due to the impact of coronavirus. It was also stated that the cash flows negatively for them, currently. According to the latest reports, the CEO drew a package of $6.15 million for the FY20. This has been mentioned in the regulatory filing by the Infosys

Infosys also said that the profits which are marginally impacted are due to most of their clients are asking for price reductions and discounts. In a 20-F submission to the US securities, Infosys has said that their cash flows are negatively impacted by the prolonged payment term requests from clients and low profitability. This may impact the payment of dividends to their stakeholders.

The company has also said that some of its clients have invoked the ‘Force Majeure’ clause in their contracts which is negatively impacting their business.

Not just Infosys, the corona outbreak has negatively impacted the global economy and all the businesses. Most of the companies, including Infosys has decided not to provide a revenue outlook for FY21 due to the impact of coronavirus

Pre-COVID, Infosys has said that there has been an increase in the number of rejections for visa and visa renewal from the United States and some other countries. Due to this, the company has to face the delay or bear the additional cost due to the uncertainty of whether the employee will join at the right time in the right project. The company also highlights that similar situation happened in Australia and the UK as well where the government will focus on “net migration”

Due to this crisis, the companies are preferring to employ local individuals and this could lead to an increase in the restrictions by the governments. The company also says that these extended restrictions will impact the overall cost and expenses for client delivery due to the additional costs in renewing the visas

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15% of employees to return to Offices for Infosys, as part of the second phase

This week, Infosys had planned a second phase of resuming its operations. As part of this second phase, 15% of its employees will be returning to offices. Recently, the government also had eased the restrictions in the country which led to IT companies establishing such rules.

Currently, Infosys employs a total of 242,371 employees globally. 15% of them are 36,350 employees who will be returning to the offices.

In the first phase, less than 5% of its employees are attending the offices in all regions. After this, executive VP and group HR head of Infosys had said that the company is planning to ramp up gradually and increase the attendance in the offices in the upcoming weeks.

Infosys CEO Salil Parekh had returned to the office in the first phase. He has started working at the headquarters of the company which is located in Electronic City. VP of Infosys had said that the company still believes that the employees’ safety is their utmost priority. They do not want to rush the employees to offices ensuring the safety and well being of the employees.

A spokesperson at Infosys had said that the company has taken all the necessary measures to keep their employees safe. Also, it has been noticed that the productivity of the employees is still at the required levels. Still the company has been working on bringing out robust technology for the employees to work remotely with ease.

The company is also planning to make sure that the employees who will be working from home will remain motivated. There are several measures being implemented by the company like issuing virtual breaks, online/phone meets. Yoga sessions, tips for the children of the employees as well to increase their productivity are being taken by the company.

The company has been following the virtual onboarding of the lateral employees making sure that all the offers made, are honored. The company is also planning to board campus hires in the same virtual manner, during the second phase.

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Companies looking to add more work from home clauses with their clients’ post-COVID

Many of the tech giants in the country and software service exporters like TCS, Wipro, HCL, Cognizant, have moved most of the Indian engineers to abroad/onsite to debug technology issues or to co-innovate

But with these situations like lockdown, these companies have learned a lot and are modifying the entire IT work culture. These companies are looking to add more work from home clauses in their contracts agreement with their clients while taking up the projects.

Peter Bendor Samuel, the chief executive of IT consultancy group Everest, has said that in further projects it is highly likely that more work from home clauses are to be added to the Master Service Agreement. The process of working from home and different models of working from home has been a revelation to both clients and the companies and is looking to include this further in future projects as well. He also further said that the Covid-19 outbreak has decreased the demand for talent as well as freed up additional talent in US, Europe. After this lockdown, it can be expected that more work will be shifted towards onshore and away from IT service companies

The companies also believe that more people working from home would also free talent onsite especially in countries like the USA, Europe.

TCS already had come up with a plan in which 75% of its employees will work from home in the near future. However other companies still feel it is early to conclude anything on this model as they feel there are several models to explore.

Chief Human Resources Officer at Wipro, Mr. Saurabh Gill has said that there are various discussions and analysis happening in adopting these kinds of models, whether to have a set of employees work from home permanently, etc. However, he said that the main idea for an employee to be sent onsite is to be closer to the customer.

Ray Wang, chief analyst at Constellation Research has said that several vendors are using this work from home option as an upsell and some others are using it to wind deals. Analysts also feel that even if adopting these models will not give encouraging results immediately, in the longer-term they will yield better results with the costs cutting in various departments Logistics, travel, office space, etc.

Related Articles: Is it the IT work model revolution? TCS is planning to ask 75% of its workforce to work from home permanently, post-COVID

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