Tata Consultancy Services (TCS), country's largest software exporter is likely to hire up to 20,000 employees in second quarter of the current fiscal and about 60,000 people in the ongoing financial year 2011-12. During the quarter ended June 30, the company made a gross addition of 11,988 employees, while 8,412 left the organization.
During the first quarter the attrition rate was 14.8% as compared to 14.4% last quarter (Q4 FY11). People leave for higher studies and there are also cases of dissatisfaction because of the wage hike in April quarter causing certain amount of attrition. In the January-March quarter, 2011, the company had done 75% of fresh hiring and 25 lateral hiring, however for 20,000 of headcount during the current quarter the company expects to hire 55 fresh and 45 lateral.
TCS is chasing 12 large deals in the United States, UK and elsewhere in Europe, and additional deals in emerging markets. TCS added 24 new clients in its first quarter, the company said today, helping it post a forecast-beating 28% rise in net profit.
The company’s net profit after tax for the quarter ended June 30, 2011 surged by 32.51% at Rs 2062.43 crore as compared to Rs 1556.41 crore for the quarter ended June 30, 2010. Its total income has increased by 37.59% to Rs 8870.96 crore for the quarter under review from Rs 6447.38 crore for the similar quarter of the previous year.
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