TCS Jobs: Tata group IT major to recruit 40,000 freshers

TCS Jobs: Even as news of job cuts around the world indicates a bleak job market in the offing, TCS's latest job announcement is a breath of fresh air for freshers. India's top IT giant, Tata Consultancy Services Ltd., announced on Wednesday that it would recruit 40,000 freshers. The news came on the heels of the robust results the company announced on Wednesday. 

The company, however, didn't divulge information on whether the job drive will be part of the campus recruitment process or involve walk-ins.

But it will be a relief to freshers, who may find it difficult to get a job in the recession-hit, AI-hit job market. 

The company's Chief HR Officer, Milind Lakkad, said on Wednesday that the company recruited its highest number of experienced professionals in FY23.

"During the year, we onboarded over 44K freshers and our highest-ever number of experienced professionals. We also doubled down on organic talent development."

In a release, the company said that it hired more than 22,000 staff last year.

"We added 821 employees, while in FY23, the company added a total of 22,600 staff. The total employee headcount for the full year stood at 614,795. Of this, 35.7 per cent are women, and the entire workforce comprises a staff of 150 nationalities," TCS said in its release. 

The IT firm said that in the last 12 months, its attrition rate was 20.1 per cent. 

For some time, the company has shown a high inclination to hire new staff.

In January, it announced that it was planning to hire around 1.25 lakh to 1.5 lakh employees in FY24.

The announcement came after a media report suggested that the company slashed its workforce marginally during the quarter.

The report said that the company cut 2,197 jobs during the October-December quarter.  

TCS clarified, saying that the layoff was not because of the financial aspect, but because the company had hired at a higher rate in one and a half years.  

In its filing on Wednesday, for the January-March period, TCS posted a 5 per cent quarter-on-quarter (QoQ) rise in its consolidated net profit of Rs 11,392 crore. The company said that the profit grew 14.76 per cent on a yearly basis. The company's revenue rose to Rs 59,162 crore, up 1.6 per cent QoQ and 16.9 per cent YoY. 

The board of the company also approved the payment of a Rs 24 final dividend per equity share of the face value of Rs 1 each. 

TCS is known to pay high dividends. In the last 12 months, the company has paid three interim dividends, one special dividend, and one final dividend (today).