{"id":1244639,"date":"2023-04-14T13:19:40","date_gmt":"2023-04-14T07:49:40","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1244639"},"modified":"2023-04-14T13:20:13","modified_gmt":"2023-04-14T07:50:13","slug":"tcs-hiring-down-by-78-only-22600-new-employees-hired-lowest-hiring-in-9-years","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/tcs-hiring-down-by-78-only-22600-new-employees-hired-lowest-hiring-in-9-years\/","title":{"rendered":"TCS Hiring Down By 78%: Only 22,600 New Employees Hired, Lowest Hiring In 9 Years"},"content":{"rendered":"\n<p>India&#8217;s largest IT services exporter Tata Consultancy Services (TCS), added 22,600 employees during FY23 which is a sharp decline compared to its net addition in FY22.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/04\/TTCCSS-2-1-1024x576-1-1024x576-2-1280x720-1-2-1024x576.jpeg\" alt=\"TCS Hiring Down By 78%: Only 22,600 New Employees Hired, Lowest Hiring In 9 Years\" class=\"wp-image-1244645\" srcset=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/04\/TTCCSS-2-1-1024x576-1-1024x576-2-1280x720-1-2-1024x576.jpeg 1024w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/04\/TTCCSS-2-1-1024x576-1-1024x576-2-1280x720-1-2-300x169.jpeg 300w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/04\/TTCCSS-2-1-1024x576-1-1024x576-2-1280x720-1-2-768x432.jpeg 768w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2023\/04\/TTCCSS-2-1-1024x576-1-1024x576-2-1280x720-1-2.jpeg 1280w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>Lowest net headcount addition<\/strong><\/p>\n\n\n\n<p>This is the company\u2019s lowest net headcount addition since FY15 when it had added 19,000 employees on a net basis during the year.<\/p>\n\n\n\n<p>In the previous year, it had added 1.03 lakh employees on a net basis.<\/p>\n\n\n\n<p>The company had added 40,185 employees on a net basis in FY21, 24,179 in FY20 and 29,287 in FY19.<\/p>\n\n\n\n<p>The company\u2019s headcount counting the latest addition, as of March 31, 2023, stood at 6,14,795.<\/p>\n\n\n\n<p><strong>Marginal increase on net basis<\/strong><\/p>\n\n\n\n<p>During the last quarter of the fiscal, TCS saw a marginal increase of 821 employees on a net basis after last quarter\u2019s decline of 2,197 employees, highlighting the current unrest in the IT sector.&nbsp;<\/p>\n\n\n\n<p>The firm added 35,209 employees in the same quarter last year.<\/p>\n\n\n\n<p>In Q1FY23 TCS added 14,136 employees, 9,840 in Q2, saw a decrease of 2,197 employees in Q3, and an increase of 821 in Q4.<\/p>\n\n\n\n<p><strong>HR Officer\u2019s words<\/strong><\/p>\n\n\n\n<p>Milind Lakkad, the company\u2019s Chief Human Resources Officer, said, \u201cWe are honouring all job offers, and have added 22,600 employees on a net basis in FY 23.&nbsp;<\/p>\n\n\n\n<p>During the year, we onboarded over 44K freshers and our highest-ever number of experienced professionals.\u201d<\/p>\n\n\n\n<p>He said that the hiring slowdown last quarter was not something unexpected, but was planned this way.<\/p>\n\n\n\n<p><strong>Attrition<\/strong><\/p>\n\n\n\n<p>Meanwhile, attrition for the quarter fell to 20.1 percent, continuing its downward trend from last quarter\u2019s 21.3 percent.<\/p>\n\n\n\n<p>As the talent market cools off, attrition rates have continued to decline.<\/p>\n\n\n\n<p>It also aligns with the company&#8217;s expectation that attrition will continue to fall in coming quarters.<\/p>\n\n\n\n<p><strong>Hiring slowdown to continue<\/strong><\/p>\n\n\n\n<p>Simultaneously, the hiring slowdown will continue as companies take a cautious approach to fresh hiring after the highs of FY22.<\/p>\n\n\n\n<p>Experts expected a hiring slowdown in Q4FY23, and expect hiring to be subdued for at least the <a href=\"https:\/\/www.moneycontrol.com\/news\/business\/tcs-adds-22600-employees-on-net-basis-in-fy23-steep-decline-from-1-3-lakh-in-fy22-10403031.html\/amp?utm_campaign=fullarticle&amp;utm_medium=referral&amp;utm_source=inshorts\">first <\/a>two quarters of FY24.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>India&#8217;s largest IT services exporter Tata Consultancy Services (TCS), added 22,600 employees during FY23 which is a sharp decline compared to its net addition in FY22. Lowest net headcount addition This is the company\u2019s lowest net headcount addition since FY15 when it had added 19,000 employees on a net basis during the year. In the [&hellip;]<\/p>\n","protected":false},"author":24,"featured_media":1244645,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[92],"class_list":["post-1244639","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-tcs"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>TCS Hiring Down By 78%: Only 22,600 New Employees Hired, Lowest Hiring In 9 Years - Trak.in - Indian Business of Tech, Mobile &amp; Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/tcs-hiring-down-by-78-only-22600-new-employees-hired-lowest-hiring-in-9-years\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TCS Hiring Down By 78%: Only 22,600 New Employees Hired, Lowest Hiring In 9 Years - Trak.in - Indian Business of Tech, Mobile &amp; Startups\" \/>\n<meta property=\"og:description\" content=\"India&#8217;s largest IT services exporter Tata Consultancy Services (TCS), added 22,600 employees during FY23 which is a sharp decline compared to its net addition in FY22. 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