TCS headcount dips by over 5,600 employees and attrition eases to 13% in December quarter

Indian IT services giant Tata Consultancy Services (TCS) saw its total workforce strength reduce for the second consecutive quarter in the October to December 2023 quarter, the firm’s quarterly results showed on January 11.

TCS headcount dropped by 5,680 employees to 603,305 at the end of the third quarter of the financial year 2023-24. This compares to a decline of 6,333 employees in the preceding quarter. In the same quarter last year, the firm had witnessed a decline of nearly 2,200 employees.

The attrition level at TCS has come down to 13.3%.

In an earnings statement, the company pointed out, “The employee base is very diverse, with 35.7% women and with 153 nationalities. Year till date, TCSers have clocked 39.7 million learning hours, and acquired 3.7 million competencies, including 515,000 high-demand competencies.”

Hinting at having all employees back in the office by March 2023, Milind Lakkad, Chief HR Officer, said: “The vibrancy and energy levels in our offices are increasing as more and more of our employees are back in the offices. We expect to be back to our normal operating mode by the end of the current financial year.”

He also said TCS is committed to hiring from college campuses and growing talent organically. He said the firm has commenced its campus hiring process for the next year.