TCS increments alert: Tata Consultancy Services (TCS), India’s largest IT services company, on Friday said it will roll out double digit hikes for high performers, starting April. Milind Lakkad, Chief HR Officer said, “We are pleased to announce the annual increments for our workforce, as we have done consistently every year, with top performers receiving double digit hikes.”
According to Lakkad, salary increments will range from 4.5% to 7% based on performance, with high-performers receiving double-digit hikes. The company aims to hire around 40,000 freshers this year, with most already on-boarded from previous cycles, states an ET report.
TCS saw a decrease in hiring during the last quarter of the fiscal year. The company’s headcount dropped by 1,759 employees, bringing the total to 601,546 at the end of the year. This follows a previous decline of 5,680 employees in the third quarter. Despite this, TCS ended the fiscal year with 13,249 fewer employees compared to the previous year, while registering a 3.5% growth in revenue.
Also Read | TCS Q4 results: Tata Consultancy Services reports PAT of Rs 12,434 crore; beats estimates
“The reduced attrition at 12.5%, enthusiastic response to our campus hiring, increased customer visits and employees returning to the office have resulted in great vibrancy in our delivery centres and elevated morale of our associates,” Lakkad said.
TCS is actively recruiting from priority campuses and conducting national qualifier tests to bring in a significant number of new hires, according to Lakkad.
Additionally, TCS said that its chief operating officer, N. Ganapathy Subramaniam will be retiring, after 40 years of service. His responsibilities will be redistributed among senior colleagues as TCS does not plan an immediate replacement for the COO role.
Similar to its industry counterparts, TCS has observed a consistent decrease in headcount over recent quarters, with a significant drop of 6,333 in the second quarter of the fiscal year. K Krithivasan, TCS’s chief executive, highlighted that revenue growth and headcount are not directly correlated, emphasizing the company’s focus on efficiency and optimized deployment of associates. Krithivasan noted that the company’s ongoing training process for new hires typically takes six to nine months before deployment.
As per Teamlease Digital, the IT sector is likely to witness a flat or negative net addition in the current fiscal year, aligning with the trend seen across major IT companies.
TCS Workforce FY 2023-24 Highlights:
According to Lakkad, salary increments will range from 4.5% to 7% based on performance, with high-performers receiving double-digit hikes. The company aims to hire around 40,000 freshers this year, with most already on-boarded from previous cycles, states an ET report.
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TCS saw a decrease in hiring during the last quarter of the fiscal year. The company’s headcount dropped by 1,759 employees, bringing the total to 601,546 at the end of the year. This follows a previous decline of 5,680 employees in the third quarter. Despite this, TCS ended the fiscal year with 13,249 fewer employees compared to the previous year, while registering a 3.5% growth in revenue.
Also Read | TCS Q4 results: Tata Consultancy Services reports PAT of Rs 12,434 crore; beats estimates
“The reduced attrition at 12.5%, enthusiastic response to our campus hiring, increased customer visits and employees returning to the office have resulted in great vibrancy in our delivery centres and elevated morale of our associates,” Lakkad said.
TCS is actively recruiting from priority campuses and conducting national qualifier tests to bring in a significant number of new hires, according to Lakkad.
Additionally, TCS said that its chief operating officer, N. Ganapathy Subramaniam will be retiring, after 40 years of service. His responsibilities will be redistributed among senior colleagues as TCS does not plan an immediate replacement for the COO role.
Expand
As per Teamlease Digital, the IT sector is likely to witness a flat or negative net addition in the current fiscal year, aligning with the trend seen across major IT companies.
TCS Workforce FY 2023-24 Highlights:
- Employee Headcount: 601,546
- Diversity: 152 nationalities; 35.6% women
- IT Services Attrition (LTM): 12.5%
TCS Dividend 2024: The IT bellwether has announced to pay 2800 per cent dividend to its shareholders. The Tata Group company’s post tax profit during the January-March period last year stood at Rs 11,392 crore.
TCS Dividend 2024: Tata Consultancy Services or TCS has announced to reward the shareholders with a final dividend. The company made the announcement on Friday, 12th April while announcing the quarterly earnings report. TCS has the high dividend yield among the IT firms which stands at 1.27 per cent. The company’s net profit grew 9 per cent to Rs 45,908 crore.
The IT bellwether has announced to pay 2800 per cent dividend to its shareholders. A dividend is always calculated on the face value of a stock and not on the market price of the stock. Here the face value of each stock of the Tata Group company is Re 1 which translates to a dividend amount of Rs 28 per equity share of Re 1 each of the IT company.
| Ex-Date | Amount (Rs) |
| 19 Jan, 2024 | 9 |
| 19 Jan, 2024 | 18 |
| 19 Oct 2023 | 9 |
| 20 July 2023 | 9 |
| 15 June 2023 | 24 |
| 16 Jan 2023 | 8 |
| 16 Jan 2023 | 67 |
TCS Dividend Record, Payment Date
The IT major has not fixed the dividend record and the payment date.
The company has had a dividend yield of 1.27 per cent in the last 12 months at the current levels.
TCS Share Price Today News
TCS share price settled 0.45 per cent higher at Rs 4,000.30 apiece on the BSE on Friday as against a 1.06 per cent correction in the benchmark.
India’s largest software services company TCS on Friday reported a 9.1 per cent growth in its March quarter net profit at Rs 12,434 crore. The Tata Group company’s post tax profit during the January-March period last year stood at Rs 11,392 crore. In the fiscal year 2023-24, the company’s net profit grew 9 per cent to Rs 45,908 crore, as per an exchange filing. In the March quarter, its revenue grew 3.5 per cent to Rs 61,237 crore year on year. Its operating profit margin expanded by 1.50 per cent to 26 per cent.
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