TCS to hire 8,300 trainees in January-March 2010: report

Tata Consultancy Services (TCS), the country's top information technology exporting company, is planning to hire 8,300 trainees in the last quarter of fiscal 2009-10 (January-March 2010), reports quoting company sources said.

TCS has already hired 8,300 trainees in the current financial year, in addition to the 3,000 professionals it hired during the fiscal, reports quoting Ajoyendra Mukherjee, vice president and head, global human resources, TCS, said.

TCS has already announced a 150 per cent hike in variable pays to its employees in the current quarter and, according to Mukherjee, another wage revision is due in April, it said.

Despite uncertainties in the market and companies still holding back on IT spend, TCS added a total of 12,854 employees, including net addition of 7,692, in the current financial year. The company is expected to bring in 5,500 more in new campus hirings in FY 2010-11.

TCS last week reported a 33.9 per cent year-on-year jump in its consolidated fiscal third quarter net profit at Rs1,824 crore. Net profit for the quarter ended 31 December 2009 was also up 11.1 per cent compared with the previous quarter (ended September 2009) as well. (See: TCS third quarter net zooms nearly 34 per cent to Rs1,824 crore).

TCS also reported a 126 basis point increase in its operating margin and 176 bps increase in net margin during the quarter.

The company reported a volume growth of 6.6 per cent sequentially with all-round growth across markets and industries.