India’s largest IT services company Tata Consultancy Services (TCS) headcount increased by 5,726 employees on a net basis in the fiscal second quarter, up two consecutive quarters in a row it decreased for three straight quarters.
The Tata group company's headcount had added 5,452 employees sequentially in the June quarter.
With the latest increase, TCS now employs 6,12,724 people, the company said on October 10 as it shared the numbers for the second quarter of FY25.
“We welcomed 11,000 associates in the first half of the year, and we remain on track for trainee onboarding as planned. We have also commenced the campus hiring process for FY26. Our strong talent base and increased learning intensity prepares us well for the complex technology transformations that customers entrust us with," Chief Human Resources Officer Milind Lakkad was quoted as saying in the release.
Attrition for the quarter marginally rose to 12.3 percent, from the previous quarter’s 12.1 percent. The attrition rate has been falling from its peak as the job market has cooled down after the pandemic-led digital boom led to aggressive hiring.
The Mumbai-based firm’s headcount fell for the first time in 19 years in FY24, marking a shift since the company listed on the bourses in 2004. The IT behemoth added 22,600 employees in FY23. The reversal is even steeper if one looks at FY22 numbers when it added a whopping net of 1.03 lakh employees.
For Q2, TCS posted a 1.1 percent quarter-on-quarter (QoQ) fall in net profit, missing Street expectations. India’s largest IT service firm’s Q2 FY24 revenue from operations rose to Rs 64,259 crore, showed the stock exchange filing.
TCS and other IT companies have not been backfilling vacant posts as they have enough bench strength to meet demand. The IT sector has been witnessing weak demand due to uncertain macroeconomic conditions and falling discretionary spending.
Ahead of the results, TCS share price fell 0.6 percent today to end at Rs 4227.9 on NSE.
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