Midcap IT Firms Add to Headcount as Large Peers Post Drop | In the News

At a time when large IT companies saw their net employee headcount decline, many midcap IT companies were hiring and have added to their headcount in the second quarter of this fiscal. Even on a year-on-year (YoY) basis, many midcaps have left large caps behind in headcount addition.

Peter Bendor-Samuel, CEO of Everest Group, said, “There are two big reasons for midcaps adding to their headcount. The first is that the smaller firms did not over-hire to the same degree in the post-COVID boom of the last three years, and hence have their employee to revenue more in balance than the larger firms, which did accelerate hiring well beyond their needs banking on continued growth.”

Read more in Financial Express.

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