BENGALURU: TCS, which onboarded more employees in Q1 and Q2, reported a net decline of 5,370 employees in the third quarter. The company’s total workforce as of December 31, 2024, stood at 6,07,354 and attrition rate at 13%.
The IT services company added 5,726 employees in the September quarter, and 5,452 employees in Q1. It onboarded 11,000 trainees in both first quarter and second quarter of the current financial year (FY25).
During the third quarter, the company promoted over 25,000 employees and with this, the total promotion in this financial year stood at over 1,10,000.
Milind Lakkad, chief HR officer, said that the company is on track to onboard 40,000 through campus recruitment this fiscal and in the next final year the company will onboard a higher number of campus hires. He said attrition is within its comfort range and going forward, they anticipate reduction in the quarterly attrition.
He said the company continues to invest in employee upskilling and overall well-being. Speaking about the new government in the US, K Krithivasan, chief executive officer and managing director, said once the government comes, the policies will be clear.
“We expect discretionary spending to pick up in healthcare and manufacturing. We are waiting for some clarity,” he said.
Meanwhile, the company also announced its proposed acquisition of two wholly owned subsidiaries of Tata Realty and Infrastructure Limited—TRIL Bengaluru Real Estate Five Limited and TRIL Bengaluru Real Estate Six Limited—for Rs 1,625 crore.