TCS’ complete workforce stood at 6,14,795 as on March 31, 2023, a web addition of 821 in This autumn and 22,600 for the yr.
TCS staff may additionally get 100 per cent variable payout for the latest quarter
Even although India’s largest IT companies firm TCS has posted a This autumn revenue decrease than analysts’ estimates, the Tata group agency will likely be giving wage hikes in FY24 just like FY23. According to a media report, TCS Chief Human Resource Officer Milind Lakkad mentioned high-performer staff will proceed to get 12-15 per cent hikes within the present monetary yr. He added that different may even get the wage hike within the vary of 1.5-8 per cent.
Milind Lakkad additionally mentioned that staff may additionally get 100 per cent variable payout for the latest quarter, in response to the ET Now report.
“Our hikes this yr will likely be just like what we’ve been giving. Especially for top performers, we’re mainly seeking to get them to a 12-15 per cent hike… then there’s 8, 5, 1.5 per cent — It’s that form of a quantity which is developing for the remaining,” Milind Lakkad mentioned, in response to the report.
According to the latest data, TCS’ total workforce stood at 6,14,795 as on March 31, 2023, a net addition of 821 in Q4 and 22,600 for the year. The workforce continues to be diverse, comprising 150 nationalities and with women making up 35.7 per cent of the base.
Tata Consultancy Services (TCS) on Wednesday reported a 14.8 per cent jump YoY in its net profit to Rs 11,436 crore for the quarter ended March 2023 (Q4 FY23). The revenue from operations of India’s largest IT services company also rose 16.94 per cent to Rs 59,162 crore, compared with Rs 50,591 crore in the year-ago period.
TCS’ net profit had stood at Rs 9,959 crore in the corresponding period last year (Q4 FY22).
The quarter is marked by negative events globally in the banking sector, including the collapse of Silicon Valley Bank. The IT sector has significant exposure to the BFSI sector.
TCS’ IT services attrition rate continued to trend down and was at 20.1 per cent on an LTM (last-twelve-month) basis. In the previous quarter ended December 2022, the attrition rate had stood at 21.3 per cent, which was marginally lower than the 21.5 per cent during the quarter ended September 2022.
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