Headcount drops at Tech Mahindra, hiring to increase

The software firm has new projects and deals in the pipeline for which it will require more talent

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Tech Mahindra’s workforce has reduced by about 4,182, from 1.25 lakh to about 1.21 lakh over a year. The technology company is all set to give a push to hiring. With many deals in the pipeline, it will spend the next few quarters hiring more talent.

The firm has its eyes set on double-digit growth, which would require more people on board. It also plans to invest more time and resources on skilling its workforce and getting them ready for the future. The aim is to balance growth and utilisation.

It plans to implement increments in April 2021 and does not anticipate being impacted by the second wave of the pandemic, which is sweeping across India.

Going forward, Tech Mahindra is looking at focussing on leveraging the rising demand for artificial intelligence (AI), blockchain, cybersecurity and 5G.

With new and exciting deals in the pipeline, the Company hopes to see growth and sustain its hiring momentum. It has reportedly posted $1.04 billion in net new deals for the quarter ending March 31, 2021. It has bagged new deals worth $2.21 billion for the year.

The Company has bagged two clients in the $10-million band and seven in the $5-million band, which makes its active list of clients about 1,007 strong.

The software services firm reported a 17.4 percent sequential drop in consolidated profit at Rs 1,081.4 crore for the quarter ended March, 2021. In the previous quarter, it posted a profit of Rs 1,309.8 crore.

Meanwhile, the firm has announced a special interim dividend of Rs 15 per share, to be paid by August 11, 2021.

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