 "IT firm TCS adds over 5,000 employees in the first quarter of FY25")
Tata Consultancy Services (TCS), India’s largest information-technology services company, on Thursday announced a net headcount addition of 5,452 employees in the first quarter of 2024-25 (FY25).
This is happening after three quarters of decline.
At the end of the first quarter of FY25, TCS reported a headcount of 606,998.
In the first quarter it took on board 11,000 freshers. Chief Human Resource Officer Milind Lakkad said a small part of this 11,000 included the freshers whose joining was delayed last financial year. “We do not have any backlog from last year.
Whatever we will add will be the freshers who have been given the offer letter this year,” said Lakkad during the media briefing after the company announced its results.
Whatever we will add will be the freshers who have been given the offer letter this year,” said Lakkad during the media briefing after the company announced its results.
ALSO READ: TCS Q1FY25 results: Net profit rises 8.7% to Rs 12,040 cr, revenue up 5.4%
TCS becomes the first firm after Accenture to announce a net addition in headcount. The New York Stock Exchange-listed consulting and IT services firm’s headcount was up by 7,882 at the end of third quarter of FY24, taking its employee count to 750,200.
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The company also saw its attrition rate go up to 14 per cent from the earlier 13 per cent. For FY24 TCS had reported a total headcount decline of 13,249 over FY23. Though the company has given a target of hiring 40,000 from campus this year, Lakkad said a lot depended on the macro situation.
“This is our core strategy and we want to go to that number, but we will decide as we go ahead in the year,” added Lakkad.
TCS said 70 per cent of its employees had returned to office.
Lakkad said not attending office would have implications. “We are doing this more to instil discipline among employees,” he added.
Attrition for the first quarter came in at 12.1 per cent, down from the 12.5 per cent in the preceding quarter.
TCSers have clocked 11 million learning hours and acquired 1.2 million competencies, said the company in its results.
Opening door
- Reverse headcount falls after 3 qtrs; net addition of 5,452
- Onboarded 11,000 freshers
- No backlog of delayed onboarding among freshers
- Attrition at 12.1%