Leading IT firms Tata Consultancy Services, Infosys and Wipro witnessed a sharp increase in employee benefit expenses, including salaries and bonuses, in FY19.
Offshoring worked earlier because of labour cost arbitrage and challenges with resource availability overseas. Now, though, tax benefits in the US for local hiring and a growing focus there on STEM (science, technology, engineering and mathematics) education are encouraging IT majors to hire more in that country, said Abhishek Singh, Vice-President at research firm Everest Group.
Read more in The Hindu Business Line
