Attrition in all time high among IT companies,Wipro leads the pack

The Whims of Economic slowdown had a telling effect on the Indian IT majors like TCS,Infosys and Wipro last year but the signs of recovery and the current quarter results have shown a progression for all the companies.

Returning to Normalcy not only means recovering sales but also a return to the stage of high staff attrition and wage pressures.Wipro saw the attrition rate upto 17.1 percent in the current quarter up from 8.4 percent in the April to June 2009.The company added a net 5325 employees in the current quarter bringing the headcount to 108,071 and said wage hikes have cut into margins
Wipro quarterly jumped 21 percent to Rs 12.1 billion,8 percent higher than the earlier year.Even the Scramble for talent is back in India,Yearly revenue growth has not returned to the boomtime rate of 30 percent plus.And the problem of attrition and Wage hike is taking a pie of the Company balance sheets in all the IT majors