What Job Loss? TCS Is Hiring 28,000 Freshers From Campuses; Highest In 3 Years!
TCS has recently reported an increase of 23% in their profits.
Tata Consultancy Services (TCS) as broken a new record.
This financial year (April, 2018 to March 2019), they will hire 28,000 students directly from campuses.
This is their highest campus placement in the last three years, and thus, have set a new recruitment record!
TCS: Yes, We Are Hiring 28,000 This Year!
Ajoy Mukherjee, executive VP and head of global human resources at TCS, has confirmed that this financial year, TCS is hiring 28,000 students from campuses, all over the country.
As per Ajoy, in the first half of this financial year, they have already hired 16,000 (Between April to September), and hiring sentiments are an all-time high right now.
10,227 campus placements have already been completed for the quarter ending September, which is their highest number of hiring in the last 12 quarters.
What Has Actually Changed?
As per information coming in, two ‘weak sectors’ have suddenly picked up the growth rate, thereby ushering in new projects, and new requirements of freshers.
These two sectors are: BFSI (banking, financial services & insurance) and retail, which are inducing the most number of new hires this financial year.
Employees Getting More Money!
Besides, TCS has already given 100% quarterly variable allowance (QVA) to all employees, for the September quarter.
However, employees who are C3A (mid-level) and above will be getting their QVA based on the performance and their respective business unit.
100% or higher variable payouts has been dolled out in the last 4 quarters, thereby signaling good financial health of the company.
TCS’ Profits Rising
A couple of days ago, TCS reported profits of Rs 7901 crore for the Q2 of 2018, which is an increase of 23% compared to last quarter.
With revenues increasing by 20.7% to Rs 36,854 crore, TCS delighted their shareholders, and the stock market. Their operating margins stood at 26.5%, which is one of the highest in the industry.
Besides, their attrition rate is hovering at 10.9%, another feather in their cap.
Will All Freshers Get Raised Salary?
Recently, TCS had announced that freshers will get a double salary, if they know the new-age skills such as Machine Learning, AI, Robotics and more.
However, when Ajoy Mukherjee was recently asked whether all freshers will get an increased salary, he said that it too early to comment.
Even in the recruitment space, TCS has unleashed a revolution by bringing in ‘digital recruitment’ platform, so that students from far-off locations can also apply at TCS.