Attrition in top tier IT companies has seen a sharp decline over the past year, indicating a slowdown in hiring of mid to senior level IT professionals in the current tough business climate. Wipro's attrition rate has dropped sharply to 14.6 percent in the September quarter from the 21-22 percent rates in the first half of the last financial year. TCS, the country's largest IT company, saw the rate dip to 11.4 percent in the most recent quarter, from 14.8 percent in the June quarter of last year. Mindtree's has dropped in the same period from 25.6 percent to 16.5 percent. According to a few of the IT companies attrition has dropped for them because of special efforts to retain people.
Source:The Economic Times