New Delhi. The country’s largest IT service provider company Tata Consultancy Services (TCS) has brought good news for the youth of India. The company is preparing to hire thousands of freshers in the current financial year. This decision has come at a time when major changes are taking place in the IT sector in India and globally. In the last quarter itself, TCS has added more than 5,000 new employees to its workforce. The information about this latest decision of TCS is as follows.
TCS will hire 40,000 freshers
TCS is planning to hire 40,000 freshers in the current financial year, which means that the company will hire around 110 freshers every day. This news is especially important amid concerns of rising unemployment among the youth. Experts suggest that other IT companies in India may also soon follow in the footsteps of TCS and announce similar recruitment plans for freshers.
First quarter employment data
From April to June, TCS hired around 61 people every day. During this period, the company added 5,452 new employees, taking its total workforce to 606,998. TCS continues its recruitment drive and plans to hire around 40,000 new employees in the current fiscal year.
Addressing concerns about the impact of AI on employment, Milind Lakkad, CHRO, TCS, said technology reshapes the job landscape. TCS has also increased salaries by 4.5% to 7%, with high performers getting a hike of 10-12%. Lakkad mentioned that about 70% of employees are working from office as the Indian IT sector is evolving.
Company shares fell marginally
Regarding TCS shares, there was a marginal decline on July 15, the shares closed at ₹ 4,168, down by ₹ 16.90. During the trading session, the shares hit a high of ₹ 4,237.05. The previous day the shares were at ₹ 4,184.90. On Monday, the shares opened strongly at ₹ 4,225.60.