TCS to hire 25,000 from campuses

Tata Consultancy Services (TCS) today said it plans to hire 25,000 persons from campuses in the next fiscal.

"Campus recruitment, yes, we've already started and we've started from seventh semester as what we've discussed with Nasscom. As far as next year is concerned, we will be doing at least 25,000, that is what is our target at this point of time is," TCS Executive Vice President and Global Head (Human Resources) Ajoy Mukherjee told reporters here.

He added that about 12,000 offers have already been made.

With fresh graduates continuing to join the company, there was a total gross addition of 18,654 people during the July-September 2012 quarter.

The net addition stood at 10,531 people during Q2, taking the total employee strength to 2,54,076 on a consolidated basis at the end of September 30, 2012.

TCS plans to add about 50,000 employees during FY'13. Of the total gross additions, fresh graduates accounted for 69 per cent in India. The utilisation rate (excluding trainees) was at 81.6 per cent and including trainees at 72.8 per cent.

The attrition rate (last 12 months (LTM) basis) was at 11.4 per cent overall, including IT and BPO.

"We are delighted to have increased our retention rate further to 88.6 per cent. We have also been able to increase our utilisation rate, including trainees, despite adding over 10,000 fresh graduates during the quarter," Mukherjee said.

TCS added 41 clients during the quarter, helping the company post 49.2 per cent jump in consolidated net profit at Rs 3,434 crore for the quarter ended September 30, 2012.

The USD 100 billion Indian IT outsourcing industry, which earns close to 80 per cent of its revenues from the US and Europe, has been facing difficult business environment as IT budgets of clients remain flat.

Fierce competition and rise in operational costs has also added to the impact.

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