TCS to hire 38,000 this fiscal

IT major Tata Consultancy Services (TCS) today said it was planning to hire about 38,000 personnel for improvement of efficiencies and generation of better returns.

The company would hire a total of around 38,000 people, of which 20,000 would be trainees and 10,000 laterals, TCS global human resources head Ajoy Mukherjee said in Mumbai today.

In the past fiscal, TCS had been through an entire business cycle where controlled hiring in the first two quarters led to rapid recruitment in the last two quarters, Mukherjee said, adding that the company had made 20,000 campus offers for the fiscal. He said the company had hired 16,668 new employees in the just-concluded fiscal to take the total workforce strength to 1,60,429.

The company is also in the process of procuring 600-700 H1B visas this year. Besides the US, the company is expecting business from countries in Latin America and Europe, he said.

The Tata Group company also has plans for local recruitment of people in Brazil, Uruguay, China and in Latin America, among others.

Overseas nationals formed over 10,700 or 6.7 per cent of the total employee strength of employees from 80 different nationalities, he said. Out of an 11.8 per cent attrition rate, voluntary resignations accounted for 2 per cent during the last fiscal, Mukherjee added.

The company's FY10 consolidated net profit stood at Rs7,000.64 crore, up 33.19 per cent on the year-ago period, while its revenue for the period stood at Rs30,028.92 crore, up nearly 8 per cent from the year-ago period.