TCS promotes 1.5 lakh people in FY22, to hire 10K people in US by 2022

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TCS promotes 1.5 lakh people in FY22, to hire 10K people in US by 2022
TCS added 28,238 people in the q3, December 2021 ending quarter, a mix of fresh engineering graduates and lateral hires with a consolidated headcount of 556,986 with a diverse workforce comprising 147 nationalities.

India’s largest software services company Tata Consultancy Services (TCS) had said recently that the company has seen a surge in demand for its services and expects to recruit 10,000 individuals in the US by 2022

With technology emerging as central to U.S. enterprises’ ability to respond and recover from the pandemic, TCS has seen a surge in demand for its services,” the software firm said in a statement.

To support this growth, the company expects to recruit an additional 10,000 individuals in the U.S. by 2022, it added.

Over the past few years, Indian IT firms have significantly increased hiring in the U.S. and other international markets as these countries have taken steps to tighten their work visa regimes.

TCS added 28,238 people in the q3, December 2021 ending quarter, a mix of fresh engineering graduates and lateral hires with a consolidated headcount of 556,986 with a diverse workforce comprising 147 nationalities.

However, the company’s attrition rose to 15.3% from 11.9% in the second quarter but it was still below the industry levels.

Growth was driven by North America, the company’s biggest market, which grew 18% on constant currency. Constant currency discounts the impact of currency fluctuations, over which the companies have no control. Continental Europe was up 17.5% while UK grew slower than the rest at 12.7%.

Milind Lakkad, executive vice president and chief human resources officer, said he expects the attrition levels to flatten out in the coming days. TCS promoted 110,000 people in the last nine months of the fiscal and will promote another 40,000 in the fourth quarter.

“At the end of December, TCS had 556,986 employees on its rolls with more than 200,000 women which made up 36% of its workforce,” he added.

Commenting on Return to Office plan he said, “In our last call, I had mentioned that we were preparing for a return to office for most of our employees by the start of this new year. As you all know, because of the current pandemic situation, we have temporarily put that plan on hold, and we will recalibrate our timelines. We will be closely monitoring the evolving situation on the ground across our different locations before announcing our new return to work plans.”

The company has reported a 15.4% growth in constant currency terms in the third quarter helped by clients across geographies and verticals who continued with their digital transformation journey to better manage the pandemic-led disruptions.

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