India’s largest IT firm Tata Consultancy Services (TCS) said it honoured all jobs offers the company had made. It onboarded 35,000 freshers during the first half of FY23.
Of these 35,000 freshers, 20,000 had been onboarded in the July-September quarter, the company said in a statement.
In comparison, TCS had hired 43,000 freshers in the first half of the previous fiscal year. For FY22, this number was over 1 lakh. It had announced hiring target of 40,000 for FY23.
Its net addition for the September quarter was 9,840 employees, taking its headcount to 6,16,171. In the previous quarter, the net addition of employees by the company was 14,136. In the year ago period, TCS’ net addition stood at 19,690 employees.
TCS chief HR Officer Milind Lakkad said in a statement that the company has honoured all job offers the company had made.
“Reflecting our culture of being committed to our employees, we have honored all the job offers we had made. Our investments in capacity building and organic talent development have allowed us to substantially grow our business ahead of headcount addition this quarter. We believe our quarterly annualized attrition has peaked in Q2 and should see it taper down from this point, while compensation expectations of experienced professionals moderate.” said Lakkad.
TCS has posted an 8.41 percent rise in its consolidated net profit at Rs 10,465 crore for the quarter ended September 2022.
In the corresponding three months a year ago, the company had logged a consolidated net profit of Rs 9,653 crore, it said in an exchange filing while kicking off the earnings season for the IT sector.
