TCS says attrition is down, women employee count at all-time high
TCS' attrition rate was lower than the same period last year. The company had a higher number of nationalities join them in this quarter.
- Number of nationalities at TCS increased to 134 in Q1 FY18.
- Women employees percentage reached an 'all-time high.'
- IT attrition rate stood at 11.6% in the quarter.
Tata Consultancy Services while announcing its results on Thursday said that IT attrition rate was only 11.6%. Attrition rate of the company stood at 12.4% including BPS. In Q1 FY17 attrition rate was at 13.6% for the company.
However the number of nationalities in the company increased to 134, the company said.
“The percentage of women in TCS rose to an all-time high of 34.8% while the number of nationalities increased to 134," the result announcement on BSE read.
Last month the company said that it applied for only a third of H-1B visas in this year as compared to 2015. This was helped by increased hiring from engineering campuses and B-schools in the US.
The total employee strength at the end of Q1 was 385,809 on a consolidated basis. TCS added 11,202 new employees during the quarter.
The company reported a net profit of Rs 5,950 crore. This was a drop of 5.8% from Rs 6,318 crore during the same period last year.
The company will be consolidating its Lucknow operations.
A report by ANI cited that this would cause job losses of 2000 employees. However while announcing its results TCS said that there would be no job loss as a consequence in Lucknow.
"There will be no layoffs, We are committed to grow the business in UP, & are consolidating operations in Noida" - CEO Rajesh Gopinathan
— TCS (@TCS) July 13, 2017
“We continue to hire talent across markets and help TCSers gain new digital skills so they can participate successfully in the Digital economy,” Ajoy Mukherjee, Executive Vice President and Global Head, Human Resources said.