IT Jobs! TCS To Hire 125,000-150,000 Employees in FY 2024; Employee Base Fell In Q3

Tata Consultancy Services

IT Jobs! TCS To Hire 125,000-150,000 Employees in FY 2024; Employee Base Fell In Q3

January, 11, 2023: Tata Consultancy Services (TCS) on Monday said the company will hire 1.25 lakh to 1.5 lakh employees in the financial year 2023-24 (FY24).

Surprisingly, the IT giant also reported a decline in overall headcount in the third quarter ended December 31, 2023.

At 613,974 overall workers at the end of Q3FY23, India’s largest IT services company’s employee base declined by 2,197 during the period. The company attributed the decline to over-hiring over the past 18 months.

“Improved productivity was achieved by focusing on utilization of excess capacity created in the previous quarter and investing in organic talent development.

The workforce is highly diverse, comprising 153 nationalities and a 35.7% female base. IT services attrition on an LTM basis has declined to 21.3% and is expected to decline further in the coming quarters,” the company said in a statement.

After TCS announced its quarterly results for Q3 on Monday, the company’s chief executive and managing director Rajesh Gopinathan told reporters that the overall hiring trend indicated almost the same level of hiring as in the previous quarter.

“We will recruit 125,000-150,000 people next year. It’s continued confidence in the medium-term, long-term outlook that we have,” he added.

TCS Latest Dividend

The company paid Rs. 8 as the third interim dividend and the company’s Rs. 1 per equity share of Rs. Also announced a special dividend of 67.

A third interim dividend and a special dividend will be paid to shareholders on Friday, February 3, 2023. The record date for the same was fixed on January 17, 2023.

TCS Q3: Hit and Miss

TCS in the third quarter of FY22 posted Rs. 9,769 crore, registering an 11% year-on-year growth in Q3 consolidated net profit at Rs. 10,846 crores.

On a sequential basis, the company’s net profit in the September quarter of FY23 was Rs. 10,465 crore has increased by 4%.

Income from operations in the quarter under review grew by 19 percent year-on-year to Rs. 58,229 crore as compared to Rs. 48,885 crores.

Respectively, the Tata-group firm saw its revenue grow by 5.3 percent in the December quarter from Q2FY2022-23.

Income Rs. 56,893 crore ET Now has topped the poll. The board of the company for the financial year 2022-23 has fixed Rs. 8 as interim dividend and Rs. 67 per share declared a special dividend.

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