May 29, 2024 05:24 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Rajkot fire: Gaming zone co-owner among those killed, police confirms today | Eyeing more seats in Bengal, PM Modi holds mega roadshow in north Kolkata | 'I am not against minorities but won't divide the country based on religion': PM Modi | Delhi LG VK Saxena takes swipe at Kejriwal over children's hospital fire, orders anti-corruption probe | Punjab minister Balkar Singh's obscene video surfaces, BJP calls AAP 'Anti Aurat Party'
TCS workforce drops by nearly 13,000 to 6,01,546 in FY24

TCS workforce drops by nearly 13,000 to 6,01,546 in FY24

| @indiablooms | 14 Apr 2024, 07:40 pm

Tata Consultancy Services (TCS) has reported a decline in its headcount, a situation unprecedented in 19 years with the company's total employee base diminished to 6,01,546.

The figure was revealed by the company in its Q4FY24 financial results announced last week

The IT giant recorded a nine percent increase in net profit, reaching Rs 12,434 crore in the January-March quarter of FY24.

TCS experienced a drop in its workforce for the third consecutive quarter.

The firm saw a reduction of 13,249 employees over the financial year, with a sequential decline of 1,759, reported Business Standard.

In fiscal year 2022, TCS had added 103,546 employees, while in FY21, the number stood at 40,185 employees.

Milind Lakkad, chief human resources officer (CHRO), TCS, said that the company is still calibrating the total freshers to be hired for financial year 2024-25. The plan is to get to 40,000. He added that the TCS National Qualified Test will begin shortly and the company will hire students from there directly, according to a Business Standard report.

In a company press release on Q4FY24 results, Lakkad said, "We are pleased to announce the annual increments for our workforce, as we have done consistently every year, with top performers receiving double digit hikes. The reduced attrition at 12.5%, enthusiastic response to our campus hiring, increased customer visits and employees returning to the office have resulted in great vibrancy in our delivery centres and elevated morale of our associates."

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.