TCS Jobs: Despite the recent news of job cuts indicating a grim job market, Tata Consultancy Services (TCS) has brought a ray of hope for freshers.
On Wednesday, India’s leading IT firm, TCS, announced its plans to hire 40,000 freshers, following the company’s impressive financial results.
The company did not provide details on whether the recruitment drive would involve campus placements or walk-ins.
The announcement will come as a relief to freshers who are struggling to secure employment in the current recession and AI-driven job market.
On Wednesday, the Chief HR Officer of the company, Milind Lakkad, announced that Tata Consultancy Services recruited the highest number of experienced professionals in FY23.
Lakkad further added that during the year, the company hired more than 44,000 freshers and recorded its highest number of experienced professionals ever.
Additionally, TCS focused on the organic development of its talent pool.
According to a statement released by the company, TCS recruited over 22,000 employees last year.
As per the company’s statement, TCS added 821 employees, while in FY23, a total of 22,600 staff were added.
The total employee count for the year was 614,795, of which 35.7 percent were women, and the workforce represented 150 nationalities.
According to the IT firm, its attrition rate for the last 12 months was 20.1 percent.
TCS has been actively hiring new employees, and in January, it had announced its plans to recruit around 1.25 lakh to 1.5 lakh employees in FY24.
Tata Consultancy Services (TCS) had announced its plan to recruit 40,000 freshers, dispelling concerns over the company’s recent job cuts.
The announcement came after reports suggested that the company had cut around 2,197 jobs in the previous quarter.
TCS clarified that the layoffs were not due to financial reasons but rather because the company had hired at a higher rate over the previous 18 months.
TCS reported a 5% increase in its consolidated net profit of Rs 11,392 crore for the January-March quarter, according to its filing on Wednesday.
The company’s revenue increased to Rs 59,162 crore, up 1.6% quarter-on-quarter and 16.9% year-on-year. TCS also stated that its profit grew by 14.76% year-on-year.
The company’s board approved a final dividend of Rs 24 per equity share with a face value of Rs 1 each.
TCS is renowned for paying generous dividends. Over the past year, the company has disbursed three interim dividends, one special dividend, and one final dividend (announced today).
