Tech Mahindra Adds 2,165 Staff In Q1 FY25

Tech Mahindra, an IT services firm, reported a net addition of 2,165 employees for the first quarter ending 30 June, aligning with its plan to expand its workforce this financial year.

Despite this increase, the company saw a year-over-year decline in headcount by 677, with the total headcount in Q1 standing at 1,47,620.

Rohit Anand, CFO of Tech Mahindra, noted that the majority of the new hires in Q1 were interns in the business process services (BPS) sector. "We are continuously building our employee pyramid by onboarding freshers this quarter and will continue to do so in the coming quarters. This long-term investment is crucial for us, as upskilling our workforce remains a strategic priority," Anand said.

"Excluding the interns hired, our headcount remained largely flat on a quarter-over-quarter basis," he added.

Tech Mahindra hired approximately 1,000 freshers in Q1 and plans to engage in campus recruitment this year to meet its target of adding 6,000 freshers for FY25.

Attrition rates remained stable at 10 per cent sequentially, improving from 13 per cent in Q1FY25.

Regarding the wage hike cycle, CEO and MD Mohit Joshi mentioned that the company is still evaluating the situation and has informed employees that wage increments have been postponed to the second half of the fiscal year, contingent on the company’s performance.