India's largest companies cut hiring by 45% in FY17

Net staff addition at BSE 500 firms at 66,000 in FY17 vs 120,000 in FY16

Krishna Kant  |  Mumbai 

The increase in net employees at India’s largest companies slowed down to 66,000 people in the 2016-17 financial year compared with 123,000 people a year earlier. At the end of FY17, a total of 3.25 million people were on the rolls of 241 companies of the BSE 500 index versus 3.19 million at the end of FY16. Data on employee strength was not available for the rest of the BSE 500 index companies. Tata Consultancy Services (TCS), Tech Mahindra, ICICI Bank and Axis Bank were the large employers to lead fresh hiring during FY17. In all, 136 firms — out of the ...

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First Published: Mon, October 23 2017. 01:55 IST