India's largest companies cut hiring by 26% in FY17

Net staff addition at BSE 500 firms at 80,000 in FY17 vs 108,000 in FY16

This report has been updated to correct an error in the earlier version. There had been a net addition of 8,650 employees at Wipro during FY17, and not a cut as indicated erroneously in the earlier version. The error is regretted.

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The increase in net employees at India’s largest companies slowed down to 80,000 people in the 2016-17 financial year compared with 108,000 people a year earlier. At the end of FY17, a total of 3.27 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