Tata Consultancy Services(TCS) to hire over 40,000 employees from campuses in FY22
Tata Consultancy Services (TCS), India's biggest IT exporter, plans to hire 40,000 freshers this year to meet the growing demand for its services, and with this hiring, TCS is likely to have more than half-a-million employees this year, as the same number of hiring was done by TCS in last year, through campus drive, in spite of the sharp drop in revenue within the quarter ended June on account of the Covid-19 aftermath. The IT mammoth moreover plans to double its US campus hires to about 2,000 this result, as part of an effort to decrease dependence on H-1B and L-1 work visas, which are becoming progressively troublesome to get.
TCS made its most elevated ever net addition in a quarter with 19,388 employees included in Q4 to its rolls. The overall headcount stood at 4,88,649, a net addition of 40,185 during the year.
TCS official said “Our key objective for building from the bottom doesn’t change. The 40,000 (in India) might become 35,000 or 45,000 — that’s a strategic call we'll make.” This move reflects the company’s view that business will bounce back in the second half of the year.
He said that the bulk of the hirings will be done in the first quarter of FY22, but could extend up to three quarters as well, which will depend on how the demand shapes up. However, after recording an all-time low attrition rate of 7.2% within the January-March period, we'll grow up within the coming quarters. “I expect the attrition to grow up quarter after quarter a bit but don't expect any exceptional change to happen there and we'll be able to manage that as well,” he said. He ruled out that the steady loss may go up to double-digit numbers.
The chief financial officer of TCS said that it'll be on similar lines as what the company has been doing. “We will proceed to contribute to innovation sort of infrastructure and likely indeed quicken it, revive existing innovation resources like in connectivity, communication, security, and all those angles. On physical infrastructure addition will be calibrated depending on prerequisites and possibly repurposing of a few of the existing infrastructures will happen, but that we'll hold up for a few more time to have a firm view,” he said.
TCS shows constant currency (CC) revenue growth of 4.2% for the January-March 2021 period. The net benefit increased 6.3% to Rs 9,246 crore during the quarter because it recorded its most noteworthy deal wins in a quarter worth $9.2 billion. The revenues during the quarter increased by 4% to Rs 43,705 crore, whereas the working margins stood at 26.85%, which was 25 basis points higher sequentially and highest since September 2015.