WHAT IS ATTRITION
Boeing layoffs: Which department will be affected and why will it cut 5% of its workforce? Here's what we know
Boeing will eliminate the posts through a mix of layoffs and attrition. The reason is because of a slower ramp-up to 'provide our factories and supply chain partners additional time to achieve stability,' said a message to employees from Stephanie Pope. The development comes just two weeks after Boeing said it was delaying plans to increase production of its 737 Max narrowbody jet into 2027.
EPS-95 higher pension: Pensioners’ body appeals to President as retirees struggle to get higher pension
The National Confederation of Pensioners’ Associations has requested intervention from President Droupadi Murmu regarding higher EPS pension issues. They demand the withdrawal of a problematic EPFO circular that affects eligibility for pensions based on internal trust rules. In addition, they seek to halt unnecessary litigation and ensure uniform treatment for all retirees. The NCPA calls for waiving punitive interest related to administrative delays on pension claims.
Eternal’s strong Q2 report; Exits outpace hiring at top IT firms
Happy Thursday! Eternal’s Q2 revenue surged on Blinkit’s growth. This and more in today’s ETtech Morning Dispatch.
Company townhall and results can tell 2 different tales; here's what to check if you are worried about your next hike or promotion
Keep manager’s reassurance and employer’s financials apart, says Devashish Chakravarty. Every three months, listed companies must disclose important events to the stock exchange and most of them explain their numbers to analysts. Long before you find an email from your HR, the company has already announced its hiring freeze or restructuring plans in its earnings call.
Saudi Arabia’s Houthi trap: The underdog sets the price of war
The Houthis have demonstrated their capability to threaten Saudi Arabia's military superiority and economic infrastructure. The conflict continues as Saudi Arabia struggles to contain the Houthi advances, particularly in Taiz. The Houthis leverage their local knowledge and increased arms capabilities, complicating Saudi military efforts. Saudi reliance on fragmented Yemeni forces for support has not proven effective against Houthi strategies.
ESOP Muddle: 7 ways ESOPs are used to trick accounts, taking minority shareholders for a ride
Companies do not always pay employees through salaries and bonuses. Sometimes, they reward them with shares – or the right to buy shares at favourable prices. But promoters can use this to dress up profits.
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Houthis are helping Iran turn Saudi Arabia into a pressure point: Here's how
Houthi attacks on Saudi Arabia are increasing, disrupting investments and key infrastructure. The Houthis are seeking recognition and an end to restrictions in Yemen. Iran is supporting the Houthis while targeting Saudi vulnerabilities to pressure the US. Saudi leadership faces a dilemma of escalating military actions or making concessions to the Houthis. The ongoing conflict complicates regional stability and security in the Arabian Peninsula.
81 US aircraft lost in Iran war: Why the MQ-9 Reaper losses could be a bigger warning for America than the billions spent replacing them
The United States has reported losses of 81 military aircraft during its ongoing conflict with Iran. Among these, 45 MQ-9 Reaper drones, used for surveillance and combat, account for over half the losses. The financial implications range from $1.9 billion to $3.3 billion for repairs and replacements. Congress is grappling with how to address these losses while maintaining military readiness.
Ukraine faces a shortage of troops to relieve tired fighters at the front
Ukraine is struggling with a shortage of combat-ready troops as the war with Russia enters its fifth year. While Ukraine has advanced drone technology, the lack of personnel restricts the exploitation of these innovations. Military officials report that many units are operating below full strength, leading to increased risk and exhaustion among soldiers. Reforms are being discussed, but recruiting enough troops remains a significant challenge.
Max Verstappen revival to be put to the test in steamy Singapore
Max Verstappen achieved victory at the Malaysia Grand Prix but faces challenges at the upcoming Singapore Grand Prix. Rain and thunderstorms are predicted to affect both the qualifying and the main race in Singapore. Verstappen has struggled at the Marina Bay Street Circuit, where overtaking is notoriously difficult. Meanwhile, Lewis Hamilton performed well in Malaysia and is hopeful for a strong showing in Singapore.
Audit rotation boom puts Big Four under sharper scrutiny
India’s audit rotation cycle is prompting companies to scrutinise prospective auditors far beyond credentials, examining team stability, sector expertise, regulatory records, technology capabilities and conflicts involving non-audit services. With over 1,000 mandates expiring in FY27, audit committees are demanding greater detail on partner continuity, independence and the value firms can deliver.
University of Utah may cut up to 15% of workforce for ‘modernization’ as it faces ‘most significant challenges’ in 176-year history
The University of Utah has revealed its strategy to cut up to 15% of its non-faculty and non-clinical roles. This decision is designed to allocate more resources towards bolstering education, research, and patient care. Facing substantial challenges from reduced funding and falling enrollment, the university is actively pursuing modernization efforts to streamline operations and optimize resource use.
IT firms reboot fresher hiring, but experienced pros hold upper hand
Fresher hiring, which fell to a record low of around 110,000 in FY26, will reach 115,000 to 135,000 this fiscal year, according to recruitment firm Quess Group’s estimates. This marks a likely increase of 4.5-22.7%.
Harvard, Stanford, Yale under scanner: Trump expands fight against elite colleges with focus on 'the diversity problem'
The Trump administration is widening its campaign against US universities, shifting from antisemitism investigations towards diversity programmes, admissions, hiring and foreign influence. More than 100 institutions are reportedly facing scrutiny, while cuts and threats to federal research funding are increasing pressure on universities to change their policies.
ISRO staff raises concerns over private sector transition in India's space program; seek 'written reply'
ISRO employee groups have formally voiced concerns about the privatization of India's space sector. They seek clarification on the government's policy regarding technology transfer and public sector roles. The employees fear a reduction of ISRO's core functions and impact on career development. They emphasize that launch vehicle development is a strategic capability, not just manufacturing.
Oracle trims 3,000 India roles; Microsoft places 500 on PIP
Around 2% of Microsoft India workforce, which translates to about 400-500 people, may be impacted by a global PIP exercise at the company, said Pareekh Jain, chief executive of market research firm EIIRTrend.
86 percent of employers see rising AI adoption in recruitment, says Deloitte report
Artificial intelligence is reshaping campus hiring as employers increasingly adopt it. Organizations are boosting recruitment budgets and strengthening internship programs for talent. AI integration is redefining campus readiness and driving demand for new skills. Critical roles in AI and technology are attracting higher compensation premiums. Gender diversity is now an explicit campus hiring goal for organizations.
Attrition levels drop as executives stay put in uncertain business environment
Attrition rates at India Inc decreased to 17% in 2023 from 19.7% in 2022, influenced by a subdued job market, macroeconomic challenges, sector-wide layoffs, and an uncertain future. The IT/ITeS sector experienced the most significant decline, dropping from 21.3% in 2022 to 15.5% in 2023, as per the Deloitte attrition survey exclusively shared with ET. Attrition declined in most sectors, except for a rise in financial services to 32.7% in 2023 from 29.2% in 2022.
Very strong hiring trend in non-IT sectors; attrition continues in IT: Ramani Dathi, Teamlease
“There is an overall increase in hiring within the banking sector, because across all private banks, the hiring numbers are really picking up, especially over the last two quarters. Even our pipeline for the next two quarters for the BFSI segment is looking very strong. So, with more opportunities, especially across sales, customer support, credit card recovery, across these profiles, we are seeing more attrition across the segments.”
TCS results a miss on both outlook and margin front: Sandip Agarwal
Sandip Agarwal feels that TCS's earnings report is a little disappointing, with growth and margins lower than expected. Despite lower net additions, Agarwal argues that this is likely because the company is bringing down the pace of recruitment now that attrition is under control. Overall, while attrition numbers falling is positive, something is still missing on both the growth and margin fronts. Agarwal believes next year will be a higher-margin year rather than a better growth year.
Expect Infosys margin to improve substantially from Q4: Sandip Agarwal
“If there is a recession or there is a hard landing, there could be one or two quarters where the pipelines will go down a bit and there would be some kind of pressure but on an overall basis, we will see a much bigger transformation in deals movement because it will lead to massive cost rationalisation. So,in the long term, it will be better.”
Financial services battle flight of talent to lucrative sectors
The Aon analysis also showed that overall attrition in the banking segment is 24.7% between January and September, with domestic banks showing 30.6% attrition and foreign banks 16.3%. Fintech players also contributed to high attrition levels of 27.4%. Wealth management players, too, saw a significantly high number of employee departures at 26.4%, while investment banks saw exits at 21.8%. The lowest exits in the BFSI space were recorded with asset management companies at 16.3%.
Will not providing work-from-home result in more employees quitting their jobs?
According to reports, companies that ended or did not provide work-from-home saw an increase in resignations in 2022. The attrition rate was 29% in August for such companies. Conversely, companies allowing work-from-home or hybrid models saw a 19% attrition rate.
Demand is not an issue for Tata Elxsi, supply definitely is: MD
“The deal pipeline has never been stronger over many quarters and I have absolutely no concerns on that front. The sales engine is rocking. The challenge for us would be to ensure that we service all the requirements. So demand is not an issue, supply definitely is an issue and we need to figure out ways to address that.”
TCS numbers are good but real worry is attrition: Sandip Agarwal
“Maybe in two quarters, attrition will fall but do not expect it to go below pandemic level because if it goes to pandemic level or pre pandemic level, I will downgrade the whole sector because then it is a negative sign. It means that demand is not good. I want good attrition but not this level of attrition. ”
IT companies like Infosys, TCS and others see decline in attrition levels
IT companies have been witnessing a sharp decline in the attrition levels over the past couple of quarters.
Infosys, TCS, MindTree, Hexaware witness sharp decline in attrition levels
IT cos have been witnessing sharp decline in attrition levels. This is similar to '08 recession when attrition declined as job opportunities fell.
We have come out very strong from the slowdown: Arvind Thakur, NIIT Technologies
In an interview to ET Now, Arvind Thakur, CEO, NIIT Technologies talks about how the business is shaping up for the company and what is the outlook ahead for NIIT.
TCS will continue to outperform this qrtr: Antique Stock Broking
TCS attrition rate is significantly low, they have also added lot of people to the bottom of the pyramid.
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