An IT services, consulting, and business solutions organization, Tata Consultancy Services (TCS) is on track to hire 40,000 freshers in FY2024.
N Ganapathy Subramaniam, COO, TCS said “We usually hire between 35,000 to 40,000 people and those plans are intact”.
“There are no large-scale layoffs. The way we’ve calibrated this is we’re working towards improving our own utilization because we have a decent bench,” N Ganapathy added.
He also emphasized TCS generally recruits between 35,000 and 40,000 people and that these plans will remain the same.
Tata Consultancy Services (TCS) Gen-AI ready workforce was over 100,000 strong at the end of the September quarter of the fiscal.
The company is proactively hiring bright freshers and investing in training them with the right skills is paying off. Additionally, it has reported a dip of 6,333 employees.
N Ganapathy Subramaniam, Chief Operating Officer, and Executive Director said, “We continue to make investments in our people and new technologies.”
“We now have a 100,000-strong pool of Gen-AI Ready consultants and prompt engineers who are engaged in hundreds of Gen-AI projects for our clients across segments”, N Ganapathy added.
Milind Lakkad, Chief HR Officer, said, “Our strategy of proactively hiring bright freshers and investing in training them with the right skills is paying off.”
“With that talent coming on stream and with reduced attrition, we were able to recalibrate our gross additions, keeping it below the departures during the quarter, driving up productivity and enhancing project outcomes”, Milind Lakkad added.
Year to date, TCSers have clocked 26.4 million learning hours and acquired 2.6 million competencies including 350,000 high-demand competencies. IT services’ attrition was at 14.9% for the last twelve months.
In financial results for Q1FY24 the quarter ending June 30, 2023, TCS LTM IT Services attrition rate this quarter is 17.8% with a workforce strength of 615,318. The company’s net headcount addition of 523 and the contribution of women in the workforce is 35.8%.
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