TCS Hired 22,600 Employees On Net Basis In FY23, Sharp Decline From FY22

This is the lowest net headcount addition since FY15 when TCS added 19,000 workers.

The company's Q4 earnings showed that it added a net of 821 employees last quarter.

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Tata Consultancy Services (TCS) hired 22,600 workers in the financial year 2022-23, a steep decrease when compared to its net addition in FY22. In FY22, the company added 1.3 lakh employees on a net basis. As of March 31, 2023, the company's headcount stood at 6,14,795. 

This is the lowest net headcount addition since FY15 when TCS added 19,000 workers. TCS added 40,185 workers in FY21, 24,179 in FY20, and 29,287 in FY19.

In a press release, TCS's Chief Human Resources Officer Milind Lakkad said that the company onboarded 44,000 freshers in FY23. 

Lakkad said, “We are honouring all job offers, and have added 22,600 employees on a net basis in FY23. During the year, we onboarded over 44K freshers and our highest-ever number of experienced professionals.”

The company's Q4 earnings showed that it added 821 employees last quarter. TCS added 35,209 employees in the same quarter last year. In Q1 of FY23, TCS added 14,136 employees, and in Q2, 9,840 employees. However, in Q3, the company saw a decrease of 2,197 employees. 

Milind Lakkad said: “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 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.”

On Wednesday, the company reported its fourth quarter earnings. The IT major clocked a 14.8 per cent rise in net income to Rs 11,392 crore for the fourth quarter compared to Rs 9,959 crore in the year-ago period.

The company's current Chief Executive Officer and Managing Director Rajesh Gopinathan is exiting from his role and will be replaced by K Krithivasan on June 1, 2023, for a period of five years.

Gopinathan noted in the earnings report, "It is very satisfying to look back at our strong growth in FY23, on top of the mid-teen growth in the prior year. The strength of our order book demonstrates the resilience of demand for our services and gives us visibility for growth in the medium term."