TCS Headcount Drops By 1759 In Q4 FY24

Tata Consultancy Services (TCS) recorded a headcount of 6,01,546 employees, a decline of 1759 from the previous quarter in the latest quarter ending on 31 March 2024.

This decrease follows a consistent trend of decline over the past two quarters, with the company reporting a net fall of 5,680 employees in Q3 FY24 and 6,333 employees in Q2 FY24.

During the corresponding quarter (Q4 FY23) in the previous fiscal year, the company had experienced growth by incorporating 821 new employees. This resulted in the fiscal year 2023 concluding with a total headcount of 6,14,795 employees, showcasing a net increase of 22,600 over the preceding year.

However, reports indicate that TCS has initiated campus recruitment efforts and reportedly onboarded approximately 10,000 new hires to date.

In a statement, Milind Lakkad, Chief HR Officer, TCS said: “The reduced attrition at 12.5 per cent, enthusiastic response to our campus hiring, increased customer visits and employees returning to the office have resulted in great vibrancy in our delivery centres and elevated morale of our associates.”

TCS has concluded FY24 with 13,249 fewer employees than in FY23.

Lakkad announced the issuance of annual increments. He said top performers can expect double-digit hikes in their compensation packages.

Tata Consultancy Services (TCS) on Friday reported a consolidated revenue of Rs 61,237 crore for Q4 FY24, a 3.5 per cent increase compared to the same period last year. When adjusted for constant currency, the growth stands at 2.2 per cent. Net income for the quarter amounted to Rs 12,434 crore, a healthy 9.1 per cent increase YoY. 

Rohit Chintapali

BW Reporters The author is Regional Editor (Technology & South) at BW Businessworld.