IT major Tata Consultancy Services (TCS) on Thursday reported its third quarter results ending on December 31, 2023.
Key Highlights
- TCS reported a drop in headcount, the workforce stood at 603,305
- Attrition is trending down at 13.3 percent.
- The company will hire from college campuses.
- Rise in net profit by 2 percent
N Ganapathy Subramaniam, Chief Operating Officer, and Executive Director said, “The quarter saw us make significant progress in many projects of national importance, demonstrating our execution strength. Our products and platforms had a strong quarter with new wins and go-lives.”
“The MCX platform is scaling well and processing record transaction volumes. We are on course with the BSNL 4G/5G network rollout. We are making good progress in upskilling our employees in Generative AI through our AI playground platform”, N Ganapathy Subramaniam added.
While commenting on Q3FY24 results, on hiring, Milind Lakkad, CHRO, TCS said that the company will hire from college campuses and grow talent organically.
Milind further said, “The vibrancy and energy levels in our offices are increasing as more and more of our employees are back in the offices. We expect to be back to our normal operating mode by the end of the current fiscal year. Parallelly, attrition is trending down and at 13.3%, is now in our range of comfort.”
“We are committed to hiring from college campuses and growing talent organically. We have commenced our campus hiring process for the next year and see tremendous excitement among freshers to join TCS”, he added.
TCS headcount dropped by 5,680 employees workforce stood at 603,305 as of December 31st with attrition at 13.3% for the last twelve months. The company’s workforce stood at 608,985 as of September 30, reported a dip of 6333 employees from the last quarter.
The employee base is very diverse, with 35.7% women and with 153 nationalities. Year to date, TCSers have clocked 39.7 million learning hours and acquired 3.7 million competencies including 515,000 high-demand competencies.
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