TCS And Infosys Planning to hire More than 90,000 Freshers in FY22-23

TCS And Infosys Planning to hire More than 90,000 Freshers in FY22-23

TCS And Infosys Planning to hire More than 90,000 Freshers in FY22-23. Infosys and TCS are hiring more freshers this year due to the increase in attrition rate. Infosys will be hiring 50,000 freshers whereas TCS will be hiring 40,000 freshers. Infosys added nearly 22,000 employees during the fourth quarter as the 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 Planning to hire More than 90,000 Freshers in FY22-23

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 the 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.

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Why TCS And Infosys Planning to hire More than 90,000 Freshers in FY22-23

Meanwhile, the IT company added nearly 22,000 employees during the fourth quarter as the 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.

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Infosys’ consolidated net profit rose 12% to ₹5,686 crores for the March quarter. It was ₹5,076 crores in the corresponding quarter of the previous fiscal. The company’s revenue from operations rose 23% to ₹32,276 crores in the fourth quarter as against ₹26,311 crores a year ago.

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