TCS And Infosys Plans To Hire 90,000 Freshers In FY23 | Over 1,00,000 freshers were hired by Tata Consultancy Services (TCS) in FY22, and 40,000 will be hired in FY23.
The Infosys added nearly 22,000 employees during the fourth quarter as total headcount stood at 3,14,015 from 2,92,067 in the December 2021 quarter, Infosys informed in an exchange filing on Wednesday.
TCS And Infosys Plans To Hire 90,000 Freshers In FY23
Attrition for the company was 17.4% in Q4FY22. Nevertheless, 17.4% may be less than peers who will announce their numbers soon. As of Q4FY21, the company had reported an attrition rate of 7.3%. TCS attrition in Q3FY22 was 15.3%.
Going forward, the company says its hiring momentum will be similar to last fiscal year. “We will start with 40,000 campus hires for Q1 of FY23,” says N Ganapathy Subramaniam, COO, and executive director of TCS.
Net employee growth for the fourth quarter ended on March 31, 2022 was 35,209. At the biggest employer in India, there were 592,195 employees.
In response to Q4FY22, TCS’ Global HR Head, Milind Lakkad, said: “With the highest net addition this year, highest talent retention, benchmark talent development metrics, and numerous industry awards, we have reaffirmed TCS’ position as the #1 employer of choice.”
In the fourth quarter ended in March, 2022, the company reported a 7.35 percent year-on-year increase in net profit to Rs 9,926 crore.
The company reported a net profit of Rs 9,246 crore in the corresponding quarter last year.
During the quarter under review, TCS’s consolidated revenue increased 16 per cent year-over-year to Rs 50,591 crore. In the corresponding quarter a year ago, it was Rs 43,705 crore. TCS Will Hire 40,000 Freshers In FY23, Added Over 1 Lakh Freshers In FY22
Meanwhile, the IT company added nearly 22,000 employees during the fourth quarter as total headcount stood at 3,14,015 from 2,92,067 in the December 2021 quarter, Infosys informed in an exchange filing on Wednesday.
“With the acceleration of digital disruptions across industries, we see immense potential to engage and partner with clients as they transform, adapt and thrive.
We will scale talent globally, invest in employees and accelerate innovation and digital capabilities to capitalize on the expanding market opportunities”, said Infosys CEO and MD Salil Parekh in the release.
Infosys’ consolidated net profit rose 12% to ₹5,686 crore for the March quarter. It was ₹5,076 crore in corresponding quarter of the pervious fiscal.
The company’s revenue from operations rose 23% to ₹32,276 crore in the fourth quarter as against ₹26,311 crore a year ago.
The company has set a revenue growth guidance for FY23 at 13%-15% for FY23 and an operating margin guidance of 21%-23%. Infosys’ board has recommended a final dividend of ₹16 per equity share for the financial year ended March 31, 2022.(Infosys Plans To Hire 50,000 Freshers).
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