Tata Consultancy Services (TCS), the Indian IT services giant, experienced a consecutive decline in its total workforce for the second quarter ending in December 2023. As revealed in its quarterly results on 11 January, 2024, the headcount at TCS decreased by 5,680 employees, reaching 6,03,305 by the end of the third quarter of the financial year 2023-24.
This follows a decrease of 6,333 employees in the preceding quarter and a fall of almost 2,200 employees in the same quarter the previous year.
The attrition rate at TCS has now decreased to 13.3 per cent from 14.9 per cent in Q2. Furthermore, the company emphasised its commitment to hiring from college campuses and fostering organic talent growth, mentioning that it has initiated its campus-hiring process for the upcoming year. TCS had previously announced plans to onboard 40,000 freshers in FY24.
The company had previously shifted its employees from a hybrid model with three days of work-from-office. Milind Lakkad, CHRO, TCS, now hinted at a full return to office by March 2024, expressing optimism about the increasing energy levels in the offices with more employees returning. The company previously reported that 70 per cent of its workforce had returned to the office.
While calling employees to the office three days a week, the company also issued a reminder regarding the office dress code. The guidelines specify formal business attire from Monday to Thursday, including tucked-in full-sleeved shirts and business suits for men and women, respectively. Formal occasions require business formals. Fridays have a more relaxed dress code, allowing for smart casuals such as half-sleeved shirts, turtlenecks, khakis, chinos, kurtas and salwar (for women).
