TCS, Infosys will recruit more than 90,000 this financial year
The information technology industry is increasing its recruitment, with two of India’s largest giants recruiting more than 90,000. IT services company TCS plans to hire 40,000 employees. Another IT leader, Infosys, plans to hire more than 50,000 in the current financial year.
As per Latest News, In the March 2022 quarter, Infosys’ retirement rate rose to 27.7 per cent from 25.5 per cent in the December 2021 quarter. In the fourth quarter of 2021-22, TCS’s attrition was 17.4 percent, up from 7.3 percent in the same quarter a year earlier. Also for the December 2021 quarter, TCS attrition was 15.3 percent.
However, based on the last twelve months (LTM), the number is higher, TCS management said.
The number is declining on a growing basis. Infosys management also said that the retrenchment rate was really low in the last quarter.
In the case of Fresher Hiring by TCS and Infosys, the companies hired a total of 61,000 campuses in FY21. This has increased exponentially in FY22 and is likely to continue. TCS and Infosys recruited 100,000 and 85,000 freshers in FY22, respectively.
Infosys says it plans to hire more than 50,000 freshers in FY23. In the last year, we have hired 85,000 freshers across India and globally. We plan to recruit at least 50,000 (this year) and see how it works but these are just preliminary figures, “Nilanjan Roy, chief financial officer of Infosys, told reporters after announcing its results earlier this month.
TCS also said that going forward, its recruitment momentum will be the same as last financial year. TGS Chief Operating Officer NG Subramaniam said the company is starting the year with a rental target of Rs 40,000 crore and will increase it if required during the year.