IT giant Tata Consultancy Services (TCS) in its quarterly results reported a marginal decline in its overall staff for the Q3 or December 2022 quarter. While analysts believe that moonlighting, recession, tech slump and many such factors are some of the reasons of this decline in the headcount, TCS reportedly made it clear that it was due to higher hiring done. However, to change all this, as per latest updates, TCS is planning to hire more in FY24.
According to a PTI report, TCS, while announcing its Q3 results, said that it will be hiring over 1.25 lakh staff in FY24. Since the company posted a decline of 2,197 people in its employee base, it also clarified that none of these headcount reductions are influenced by the demand environment, and were simply a result of mass hiring.
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“If you look at our overall hiring trends, we are continuing to (hire) probably at the same level. We should be hiring in the range of 1,25,000-1,50,000 people next year. It’s an ongoing confidence in the medium-term, long-term view that we have... Our posture is positive, we are not pulling people off the field, we are fully engaged, fully present. We are fully invested from a talent capacity perspective. We had over-invested last year and benefitting from that (this quarter),” PTI quoted Rajesh Gopinathan, Chief Executive and Managing Director of TCS as saying.
With regards to TCS Q3 results and hiring spree, the report also adds that the HR Chief made it clear that the IT giant will continue hiring about 40,000 freshers in FY24. Even in FY23, TCS reportedly hired about 42,000 freshers and hence, there is a likelihood of it hiring more in the fourth quarter.
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