Page 3 - Tata Consultancy Services

Amid layoff season, TCS to create 1,200 new jobs in US by end of 2024

More than 3,000 Illinoisans currently work for TCS - including 1,100 who were hired within the last five years

BSNL gets Centre's nod to sign Rs 26,821 crore 4G deal with TCS: Report

Tata Sons' unit Tejas Network will manufacture the equipment locally for BSNL

Cognizant introduces 'two merit cycles' for employees to rein in attrition

Cognizant Technology Solutions has introduced a one-time, 'two merit cycles' for calendar year 2022 (CY22) for its employees to arrest attrition

This recession was anticipated, says TCS MD & CEO Rajesh Gopinathan

TCS MD & CEO says attrition is way beyond the firm's comfort levels

Talent Cloud will address moonlighting, says TCS CHRO Milind Lakkad

"We are trying to bring in some of these elements for a certain section of our employees. We are doing a proof of concept of creating a gig workforce within the company," says Lakkad.

Attrition to continue to spike even as IT biggies reduce hiring: Experts

HR experts also point that pre-pandemic industry attrition was in the range of 12-13 per cent, to come back to that level is going to take some time.

TCS launches solution to help central banks in use of digital currencies

As major central banks work towards roll-outs of digital currencies, India's largest software exporter TCS on Tuesday announced a solution which will aid in their roll-outs and usage. The Tata Group company has enhanced its blockchain solutions platform Quartz to enable central and commercial banks to support the entire lifecycle of Central Bank Digital Currency (CBDC) issuance, book-keeping and transactions. The company's president for banking, financial services and insurance products and platforms, Vivekanand Ramgopal told PTI that having the capability was fundamental to TCS, which counts on the BFSI (Banking, Financial Services and Insurance) segment as its largest business vertical. Without giving a size of the opportunity, Ramgopal said having the CBDC solution is "incredibly important" strategically and added that it is already working with multiple stakeholders in the system. The company feels a wholesale CBDC has clear advantages over the retail one and may be the first o

TCS shares fall nearly 2% after Q2 results; m-cap declines by Rs 19,118 cr

Shares of Tata Consultancy Services (TCS) on Tuesday fell by nearly 2 per cent, a day after the firm announced its September quarter earnings. The results were announced post market hours on Monday. The stock of the IT services exporter declined 1.67 per cent to settle at Rs 3,068.95 apiece on the BSE. During the day, it fell 2.12 per cent to Rs 3,054.75. On the NSE, it went lower by 1.74 per cent to end at Rs 3,064 apiece. In volume terms, 14.29 lakh shares of the company were traded on the BSE and over 47.30 lakh shares on the NSE during the day. Its market valuation fell by Rs 19,118.43 crore to Rs 11,22,944.57 crore. The 30-share BSE benchmark ended 843.79 points or 1.46 per cent lower at 57,147.32. On Monday, TCS reported an 8.4 per cent growth in its September quarter net profit at Rs 10,431 crore, crimped by a dent on margins. The Tata group company, however, said the operating environment is "challenging" and warrants "vigilance", even though the headwinds posed by fact

TCS says confident of achieving double-digit revenue growth in FY23

TCS is confident of achieving a double-digit revenue growth in the current fiscal and will be targeting a similar performance in FY24 as well, a senior executive said on Tuesday. The largest IT services exporter's ability to achieve the number in FY24 will hinge on how the macroeconomic situation, including geopolitical tensions, commodity price pressures, inflation and financial tightening worries, play out, Chief Operating Officer N Ganapathy Subramaniam told PTI. "(For) this year (FY23), probably we are there (double-digit growth). What we need to do is that in the remaining quarters, we just have to maintain the run rate and we will be able to achieve that, not a problem. In FY24, it is too early to call. The target is to stay on the double-digit growth," Subramaniam said. For the first half of the fiscal, the Tata Group company's topline has jumped 17.1 per cent to Rs 1.08 lakh crore. In its commentary after announcing the second quarter results on Monday, the company flagged

TCS needs to breakout over Rs 3,150-level for fresh rally, chart says

There is an "Inverse Head and Shoulder" pattern getting established on the daily chart. Technically, this pattern breakout over Rs 3,150 levels would add aggressive bets on the stock.

TCS to give full variable pay to 70 per cent employees in Q2FY23: Report

In Q2FY23, TCS saw an eight per cent year-on-year (YoY) jump in its net profit to Rs 10,465 crore, beating the estimates

Top Headlines: TCS on moonlighting, licensing of digital apps, and more

TCS said moonlighting is an "ethical issue" and against its core values but has not taken any action against any staff

As consulting firms enter tech, problems grow for Indian IT companies

European clients, which typically account for a quarter to a third of Indian firms' sales, are almost certain to cut their tech budgets - at least until the war in Ukraine comes to an end

TCS to hire additional 10k-12k freshers in current year amid 21% attrition

"Attrition will need at least four quarters to come down to 20%. But the overall number of people leaving the company will come down significantly," said Milind Lakkad, Chief HR Officer of TCS.

TCS beats Street estimates in Q2, net rises 8.4%; attrition remains high

Net profit has crossed the Rs 10,000-crore mark for the first time

TCS says moonlighting 'ethical issue'; no action taken against any staff

The country's largest IT services exporter TCS on Monday said moonlighting is an "ethical issue" and against its core values but has not taken any action against any staff. The company, which employs over 6.16 lakh people, will take into account all the relevant dimensions while forming its final view on the issue which has been dominating headlines for the last few weeks, its Chief Human Resources Officer Milind Lakkad told reporters. "Moonlighting we believe is an ethical issue and it is against our core values and culture," Lakkad said. The company's Chief Executive Officer and Managing Director Rajesh Gopinathan said that an employee is barred from working for any other organisation as part of the service contract. Lakkad said that unlike peers like Wipro, which announced a sacking of over 300 employees recently, TCS has not taken any action against any employee. He said that TCS has a long term commitment towards its employees and the employees also have a "reciprocal ...

TCS bounces 3.5% off lows ahead of September quarter results today

Analysts expect TCS to post a sequential revenue growth of 3-4.6 per cent in constant currency terms, while its net profit may rise in the range of 6-10.7 per cent from the last quarter

TCS Q2 margin may expand sequentially; revenue seen rising up to 9% YoY

TCS Q2 preview: The company's EBIT margins are likely to improve by 40-118 basis points on a quarterly basis due to improved pricing, operating leverage, and absorption of wage hikes

Wipro asks employees to report to office at least three days a week

The firm's office will remain open for four days each week

TCS set to win $2-billion deal from BSNL for 4G and 5G roll-out

The official said Tata's recently acquired subsidiaries Tejas Network and Saankhya Labs would also participate in producing necessary equipment as per the deal