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Home CURRENT AFFAIRS BUSINESS TCS onboards 44,000 freshers in FY23, honors all job offers

TCS onboards 44,000 freshers in FY23, honors all job offers

Tata Consultancy Services (TCS), a major provider of IT services, claims to have onboarded over 44,000 new employees and the most experienced personnel ever.

According to the company’s regulatory filing, TCS, all job offers would be honoured.

“As we grow the TCS family, I want to call out the stellar role played by our recruitment team in swiftly scaling up hiring, and onboarding the best available talent, enabling TCS to meet its delivery commitments and capture growth. We are honoring all job offers, and have added 22,600 employees on a net basis in FY 23. During the year, we onboarded over 44K freshers and our highest-ever number of experienced professionals. We also doubled down on organic talent development, obtaining over 53K cloud certifications during the year, bringing the total to over 110K employees certified on hyperscaler platforms. This places us among the top 2 partners for the largest cloud providers,” said Chief HR Officer, Milind Lakkad.

40,000 campus offers to freshers in the FY2023–2024

In spite of concerns about a slowdown in recruiting in the software sector, Tata Consultancy Services (TCS) insisted that it aims to provide 40,000 campus offers to freshers in the FY2023–2024.

For the quarter that ended in March 2023 (Q4FY23), TCS’s employee headcount increased by a net of 821.

As of the end of March 2023, there were 614,795 persons employed overall. TCS reported that for FY23, it added 22,600 net new employees.

On an LTM basis, the attrition rate for IT services decreased and was at 20.1%.

For the quarter ended March 31, 2023, TCS reported a rise in consolidated net profit of 14.8% year over year to 11,436 crore. The combined revenue from operations was 59,162 crore, up 16.9% from 50,591 crore in the corresponding quarter last year.

A final dividend of 24 has been issued by the corporation for each equity share. The company’s stock price on the BSE ended the day on Wednesday 0.87 percent higher at 3,242.10.

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