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TCS saw a net reduction of 6,333 employees in the second quarter of FY24, while in the previous quarter, they added 523 employees. -
Chief Human Resources Officer Milind Lakkad credited TCS’s strategy of hiring and training freshers for the decline in headcount, highlighting increased productivity. -
In the first quarter of FY24, TCS was the only major IT company to increase its headcount, while others experienced declines due to the uncertain economic climate. -
TCS’s headcount as of September 30, 2023, stood at 608,985 employees.
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Attrition decreased to 14.9 percent on a last-twelve-month basis, down from the previous quarter’s 17.8 percent. -
Industry-wide, net additions and hiring have slowed, not limited to TCS.
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TCS faced delays in onboarding laterals for several months. -
In the previous quarter, TCS provided salary hikes, offering 12-15 percent increases to exceptional performers and initiating a promotions cycle.
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