TCS headcount down by over 2,000 in the third quarter of FY23

The headcount at Tata Consultancy Services (TCS), India’s largest employer in the private sector, reduced in the third quarter of FY23.

The employee strength went down by 2,197 over the previous quarter, taking its headcount to 613,974 in Q3FY23 from 616,171 in Q2.

This is the first time since Q1FY21 that the headcount has come down.

However, the management said the dip was not owing to any growth issues or global uncertainties but rather due to the overall hiring the company did in the previous financial year.

TCS said this drop did not mean that hiring for next year would come down.

Rajesh Gopinathan, chief executive officer and managing director, said in FY24 the company would hire in the range of 120,000-150,000.

Milind Lakkad, chief HR officer, said: “We made significant investment in terms of hiring fresh talent last financial year as well as over the last two quarters in this financial year. We have invested in making these people productive. That investment is now taking shape, coupled with all the cost-efficiency measures.”