Tata Consultancy Services Reports a Decrease of 5,370 Employees in Q3
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Mumbai, Jan 9 (NationPress) The prominent IT services firm Tata Consultancy Services (TCS) announced on Thursday a decline in its employee numbers by 5,370 during the third quarter of this fiscal year (Q3 FY25), representing a turnaround following two successive quarters of workforce expansion.
In the previous quarter, Q2 FY25, the Tata Group subsidiary had increased its workforce by 5,726 employees.
As it revealed its third quarter results, TCS reported a total staff count of 607,354 individuals.
Milind Lakkad, the Chief Human Resources Officer, stated that the company promoted over 25,000 associates this quarter, bringing the total promotions for the financial year to more than 110,000.
“We are committed to investing in employee upskilling and overall well-being. Our campus recruitment for this year is progressing as planned, and preparations are underway for a higher number of campus hires next year,” Lakkad further commented.
Additionally, attrition slightly increased to 13 percent in Q3, up from 12.3 percent in the prior quarter.
As of December 31, TCS reported that its workforce is notably diverse, with 35.3 percent women and employees from 152 nationalities.
The IT giant also reported a consolidated net profit of Rs 12,380 crore, representing a 12 percent increase compared to Rs 11,058 crore in the same period last year. The company’s revenue rose by 5.6 percent to Rs 63,973 crore in Q3 FY25.
According to Samir Seksaria, Chief Financial Officer, during a quarter marked by significant cross-currency fluctuations, TCS’s robust execution, efficient cost management, and adept currency risk strategies contributed to improved margins and healthy free cash flows.
“Prudent investments in talent and infrastructure should support long-term business growth,” he emphasized.
The company noted that its ongoing investments in upskilling, as well as innovations and collaborations in AI/Gen AI, position it to seize promising opportunities in the future.
