During the first half of the year of FY23, TCS onboarded 35,000 freshers. It is estimated that 20,000 freshers were hired during the second quarter of this year.
On October 10, Tata Consultancy Services revealed that during the first half of FY23, it had onboarded 35,000 freshers. Of these, 20,000 freshers had been hired by the company in Q2.
TCS’s Chief HR Officer, Milind Lakkad, said in a statement that the company has honored all job offers that had been made by the company to its employees.
“As a reflection of the fact that we have a culture of being committed to our employees, we have honored all the job offers we have made to them.
As a result of our investments in capacity building and organic talent development, our business has grown substantially ahead of the addition of additional staff this quarter.
As a result, we believe we have seen our quarterly annualized attrition peak in Q2 and will see it taper down from this point forward, while the compensation expectations of experienced professionals should be moderated.” said Lakkad.
Comparatively, the company has hired 43,000 freshers in the first half of FY22, compared to 43,000 in the first half of FY21. This number increased to over 1 lakh over the course of the entire year.
It is expected that the company will hire 10-12,000 more freshers in FY23, but it will decide on its upcoming targets for fresher hiring after the third quarter.
As a result of the company’s net addition of 9,840 employees for the September quarter, the total number of employees is now 6,16,171.
There was a total increase of 14,136 employees added by the company to its workforce in the previous quarter. During the same period of the previous year, TCS had added 19,690 new employees to its workforce.
The consolidated net profit of TCS has increased by 8.41 percent to Rs 10,465 crore for the quarter that ended September 2022, representing an increase of 8.41 percent.
A year ago, the company had logged a consolidated net profit of Rs 9,653 crore for the three months ended March 31, the company said in an exchange filing.
This was at the beginning of earnings season for the information technology sector.
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