According to PTI report, India’s largest IT services provider, Tata Consultancy Services (TCS), ruled out cutting down on hiring, saying it has no plans of doing so but it may have to pace hiring according to the evolving demand scenario.
The statement comes amidst a report that the software industry is going soft on hiring as demand falters from their key markets and some of them are even going back on their campus offers.
Feb second week, the industry body Nasscom said the industry added only 60,000 jobs in FY2023-24, taking the overall headcount to 5.43 million.
TCS CEO, K Krithivasan said in a Nasscom session, “As we are already seeing some green shoots in the economy we need more people for more work.”
“We have no plans to reduce our hiring plans and will continue to hire the same way as we have been doing. Probably we will have to change the hiring phase, but no cutting down on our hiring plans, for sure,” Krithivasan added and said that TCS employs more than 6 lakh people.
Commenting on generative AI, Krithivasan said that everybody wants to leverage GenAI, so there are a lot of opportunities. However, he warned that critical thinking cannot be replaced by technology.
“Critical thinking, the ability to do strategic planning, and creativity will not be replaced by AI. GenAI in its initial phase, will only assist humans and not transform them,” Krithivasan added.
While commenting on Q3FY24 results, on hiring, Milind Lakkad, CHRO, TCS said that the company will hire from college campuses and grow talent organically.
“We are committed to hiring from college campuses and growing talent organically. We have commenced our campus hiring process for the next year and see tremendous excitement among freshers to join TCS”, he added.
IT giant is on track to hire a significant number of campus recruits in the current fiscal year, aiming to bring on board approximately 40,000 freshers.
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