India’s largest IT service company Tata Consultancy Services, aka TCS, will hire 40,000 fresh graduates in campus selection during the ongoing fiscal year. The company has planned to strengthen its talent pool expecting better business to meet the growing demand for its services from global customers.
This is not the first time when TCS has planned to hire talents in India at such a scale. Last fiscal year the company hired nearly 40,000 people to its total workforce in India.
TCS, India’s largest IT services company, reported a 28.5% rise in Q1FY22 net profit of ₹9,008 crores as compared to ₹7,008 crores in the year-ago quarter. The company’s revenue grew 18.5% to ₹45,411 in Q1FY22 ending June 30, 2021.
Fresh Jobs In TCS: Big Picture
- TCS has reported that the total headcount of the company has crossed 500,000 in FY Q1 2022, ended June 20, 2021.
- TCS had 488,649 full-time employees as of fiscal year 2021, ended March 31, 2021.
- Over 40,000 new jobs in TCS would help fresh graduates to have an exciting Kickstart to their careers.
- The new job opportunities in TCS is not just limited to India alone. The company has planned to hire fresh talent from campuses across the US and Latin America.
- TCS refuted all the claims about the talent crisis in India due to the flourishing startup scenario. The company believes that India is full of talent and with proper guidance and training every talent can serve up to a satisfactory level.
- TCS recorded the lowest attrition rate in the last quarter of FY21. With 7.2% attrition rate the company is able to capitalise on trained people for a longer duration.
- TCS added a net 40,185 new people to its workforce in FY’21, which ended 31 March 2021.
Food For Thought
Despite all claims, the company failed to meet investors’ expectations in 1QFY22. The company’s worldwide revenue grew only 3.9% QoQ and now the pressure is on the management to put up a high growth chart in the remaining quarters in front of investors.
The performance in India wasn’t promising either. TCS lost Rs 350 crore in Indian business on the back of the second wave for the quarter ending June 2021. TCS revenue from Indian operations declined 14% QoQ. While the performance in North America, the core market outside India, reached the satisfaction level with 4.1% revenue growth, India is still far from meeting the expectations level. The second wave in India did the damage and the future market scenario is still quite uncertain amidst the possibility of the third wave.
The expense of 40,000 additional employees is going to keep TCS management on its toes for the rest of the year, for sure.