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    IT firms bank on campus hiring to reduce high staff costs

    Synopsis

    Upbeat hiring plans, more so among some mid-sized players, come at a time when the sector is beset with high staff costs. Infosys and Wipro either reduced or held back variable pay for certain sections of employees, while Tata Consultancy Services (TCS), the biggest locally by market capitalization, altered its pay hike structure.

    Amid concerns that the pace of additions will slow in the biggest job-generating industry of technology services, companies such as Cognizant, Mindtree and Larsen & Toubro Infotech are seeking to step up campus hiring in FY23 despite recent reports of circumspect staff rewards at local bellwethers.Upbeat hiring plans, more so among some mid-sized players, come at a time when the sector is beset with high staff costs. Infosys and Wipro either
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    The Economic Times