TCS aims to hire around 40,000 freshers this year as most of them are already on-boarded from previous cycles.
Tata Consultancy Services: Tata Consultancy Services Limited (TCS), the multinational information technology (IT) giant on Friday announced that it will hand out roll “double-digit” increments for their high-performing staff. The raise will be starting in April.
“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,” said TCS Chief HR Officer Milind Lakkad who said that the salary hikes will range from 4.5% to 7% based on performance, with high-performing employees getting a hike of double-digit.
The company aims to hire around 40,000 freshers this year, with most already on-boarded from previous cycles, states an ET report.
Against this, TCS witnessed a drop in hiring in the last quarter of the fiscal year as the company’s headcount plunged by 1,759, bringing the total number of employees to 601,546 at the end of the year following a previous decline of 5,680 employees in the third quarter. However, the company ended the fiscal year with 13,249 fewer employees compared to the previous year, while registering a 3.5% growth in revenue.
“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,” said Lakkad adding that TCS is actively recruiting from priority campuses and conducting national qualifier tests to bring in a significant number of new hires.
Among the services, TCS specialises in Cloud, Cognitive Business Operations, Consulting, and Cybersecurity.
As for Operations, as of September 2023, TCS had a total of 51 subsidiary companies and operated in 55 countries.