TCS ATTRITION
Eternal’s strong Q2 report; Exits outpace hiring at top IT firms
Happy Thursday! Eternal’s Q2 revenue surged on Blinkit’s growth. This and more in today’s ETtech Morning Dispatch.
Software majors delete 24,000 jobs across IT and engineering in a year
Over the last one year, Tata Consultancy Services (TCS), Infosys, HCLTech, Wipro, Tech Mahindra and LTIMindtree collectively recorded 92,000 exits, in line with the industry's normal attrition rate of 11-15%. However, with exits outpacing hiring of new employees in the IT and engineering functions in five of the last six months, overall intake over the 12 months fell by 24,422 to 68,000, data from staffing firm Xpheno showed.
Company townhall and results can tell 2 different tales; here's what to check if you are worried about your next hike or promotion
Keep manager’s reassurance and employer’s financials apart, says Devashish Chakravarty. Every three months, listed companies must disclose important events to the stock exchange and most of them explain their numbers to analysts. Long before you find an email from your HR, the company has already announced its hiring freeze or restructuring plans in its earnings call.
TCS Q2 results: Profit rises 15% YoY to Rs 13,884 crore; co declares dividend at Rs 12 per share
TCS Q2 Results 2026: IT services major Tata Consultancy Services (TCS) reported 15% year-on-year (YoY) growth in its consolidated net profit at Rs 13,884 crore for the second quarter. Also the company has declared a second interim dividend of Rs 12 per share for the financial year 2026-27.
IT firms reboot fresher hiring, but experienced pros hold upper hand
Fresher hiring, which fell to a record low of around 110,000 in FY26, will reach 115,000 to 135,000 this fiscal year, according to recruitment firm Quess Group’s estimates. This marks a likely increase of 4.5-22.7%.
TCS reports dip of 6,333 employees during September quarter, attrition eases
This comes as IT companies are facing slow growth because of macro headwinds and tech spends being pulled by clients.
Attrition woes may subside, says TCS; employee addition tapers down
“We believe our quarterly annualized attrition has peaked in Q2 and should see it taper down from this point, while compensation expectations of experienced professionals moderate,” Chief HR Officer Milind Lakkad was quoted as saying in the release.
Why is Mahantesh Sabarad cautious on TCS’ margin guidance?
"Margin improvement will definitely happen, but moving towards 26-27% is a big challenge and when it comes to the supply-side situation, unless the attrition rate is really handled properly or addressed quite well, we will see more margin pressures."
TCS attrition rate spikes to 19.7%, adds over 14,000 new employees
While announcing its June quarter results, TCS’ workforce stood at 606,331, a net addition of 14,136 employees during the quarter. “IT services attrition was 19.7% on the last twelve months’ basis,” it said in a statement. In the March quarter, TCS had said that the rate of attrition was at 17.4 per cent.
Amid high attrition, TCS and Infosys hired record numbers of freshers in fiscal 2022
The two companies hired 1.85 lakh freshers between them as demand for digital talent outstripped supply.
Attrition a challenge but we are managing well: R Vivekanand, TCS
"In my specific area of focus, right now it is a series of deals rather than what you could call a mega deal. The deal sizes are healthy and we are also very focused on doing the right programmes. So, it is a good size but not what I would call mega deals."
TCS Q2 takeaways: Strong deal momentum may support rich valuations
The country’s largest IT services company saw its consolidated net profit expand 6.8 per cent sequentially to Rs 9,624 crore in the September quarter even as revenues grew at a healthy tick of 3.2 per cent.
Zomato okay for short-term trade, not a long-term buy: Sandip Sabharwal
"As of now, I am not inclined to subscribe but could do so just as a possible short-term trade to make money."
Gross hiring in top IT companies in FY17 may fall on lower attrition
"Gross hiring in fiscal 2016-17 could reduce on lower attrition and benefits of productivity initiatives," the report added.
Attrition has eased to 15.9% from 16.2% in last 12 months: Ajoyendra Mukherjee, TCS
"We will hire based on what our business plan is and on a need basis. It will be to meet our business demands."
TCS to hire 60,000 employees this fiscal, says Cyrus Mistry
TCS earlier said it was targeting to take revenues from the digital space, comprising social, mobile, analytics and cloud to $5 bn in a few years.
Infosys guidance a sure sign that they mean business: Sarabjit Kour Nangra, Angel Broking
They have been guiding again and again that FY17 onwards, they expect Infosys to be back being the bellwether company in terms of the IT sector.
TCS hands out 8% average salary hike; top performers to get 10%
TCS also faced higher levels of attrition in the March quarter and the company attributed the increased attrition to higher level of opportunities across the industry during the quarter.
TCS results disappoints on revenue: 10 important takeaways
TCS posted net profit of Rs 5,297 crore for the quarter ended in March. Revenue rose 31.2% from a year earlier to Rs 21,551 crore.
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