Expect variable compensation cuts and a slowdown in hiring in Q4 FY23 at TCS, Infosys, and Wipro
For Indian IT firms like Tata Consultancy Services (TCS), Infosys, Wipro, HCL Tech, and others that have been struggling due to growing inflation and the macroeconomic slowdown, the forthcoming earnings season will be a litmus test. The hiring, onboarding of new employees, and variable compensation, all of which have trailed below FY22 so far in FY23, also reflect the sector’s performance. According to experts, current patterns will continue, at least in the near future. An employee of a human resources organisation named Sriram Venkat indicated that the variable rewards would be subdued in Q4 FY23. Additionally, he pointed out that…