TCS employees get salary hikes, workforce strength crosses 6 lakh milestone
Premium- TCS’ workforce stood at 606,331 as on 30 June , a net addition of 14,136 during the quarter
Tata Consultancy Services (TCS), the largest Information Technology (IT) services company in India, added 14,136 employees for the first quarter of the current financial year, but its attrition continued to inch up to 19.7%.
TCS' workforce stood at 606,331 as on 30 June , a net addition of 14,136 during the quarter, the company said in a regulatory filing on Friday.
Chief HR Officer Milind Lakkad said the IT giant has increased their employees' salary by upto 8%. “Following our annual compensation review, employees received salary increases of 5 to 8%, with top performers getting even bigger hikes. Our empowering, performance-driven work culture is helping us attract local talent across all our key markets," Lakkad said.
The official further said that a continued momentum in hiring has resulted in a milestone quarter, with the employee strength crossing the 600,000 mark.
TCS sees 5.2% rise in June-qtr profit
TCS reported a 5.2% rise in June-quarter profit. Net profit rose to ₹9,478 crore in the three months to 30 June, from ₹9,008 crore a year earlier.
The workforce continues to be very diverse, comprising 153 nationalities and with women making up 35.5% of the base.
TCS continues to invest in organic talent development as part of its expansion into the growth and transformation opportunity.
MINT PREMIUM See All
The company gradually accelerated its return to office program in Q1, with about 20% of the workforce now working from office.
TCS announced its financial results for the first quarter of the current financial today. This kicked off the earnings season as TCS is the first major company to announce financial results.
At the stock exchanges, the shares of the country's largest IT firm witnessed volatility ahead of the announcement of the earnings. TCS closed 0.7% lower ahead of its quarterly earnings report.