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TCS to hire 40,000 freshers in 2024 financial year

Tata Consultancy Services campus in Silicon Valley

TCS has plans to hire 40,000 campus recruits in the current financial year, COO N Ganapathy Subramaniam said.

This announcement comes amid a cautious outlook in the business world, where many companies are adjusting their strategies for hiring new graduates.

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Mr Subramaniam said: "We usually hire between 35,000 to 40,000 people and those plans are intact. There are no large-scale layoffs. 

“The way we've calibrated this is we're working towards improving our own utilisation because we have a decent bench."

In contrast, some of TCS's industry counterparts, like Infosys, are approaching campus hiring with greater caution. 

Infosys CFO Nilanjan Roy recently said they won't venture onto campuses until there's a noticeable uptick in demand.

Read More: Airbus To Recruit 2,000 Engineers From India Over The Next Two Years

TCS, however, is open to adding lateral hires as needed.

But their hiring strategy will hinge on the demand outlook for discretionary spending. 

Subramaniam said: "When there is a contraction in discretionary spending, we hire a lesser number of laterals. In the last 12 to 14 months, we saw a huge attrition. 

“We didn't know how long that would continue, so we ended up hiring a lot more than what we needed to build a bench. 

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“Our utilisation is currently around 85%... we used to operate at about 87-90%."

TCS has a large talent bench to address any forthcoming demand in its project pipeline. 

Mr Subramaniam said: “About 10% of 6 lakh employees - which means about 60,000 people - are on the bench and they can be productively deployed. 

“But all these people were going through training, induction, and upskilling in the last 12 months. 

“They're available as a productive pool to be deployed into various projects."

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