In good news for engineering graduates, Tata Consultancy Services on Thursday said it will hire another 5,000 employees for the current financial year ending March 2014. The company raised its hiring overall hiring target to 55,000 for 2013-14 from 50,000.
(Read: TCS beats Street estimates in December quarter)
TCS is India's biggest outsourcer with revenues in excess of over $10 billion and employee strength of nearly 3 lakh.
For fiscal year 2014-15, TCS will hire 25,000 graduates through campus recruitments, Ajoy Mukherjee, executive vice president and global head of human resources at TCS said. The rest of the recruitment will be done through lateral and overseas hiring, he added.
Indian outsourcers are set for better times as exports to US, which accounts for around 60 per cent of IT sales of tier-1 firms, are likely to see better traction as growth in the world's biggest economy gathers pace.
TCS added a net of 5,463 employees in the third quarter and its utilization (including trainees) was near record high of 77.5 per cent. Attrition in the company remained low at 10.9 per cent.
In contrast, Infosys, which employs nearly 1.5 lakh employees, had reported attrition level of 18.1 per cent, the highest that the company has seen historically.
(Read: Not worried about Infosys challenge: TCS)
In all, TCS added 14,663 employees in the December quarter including 6,342 trainees. 5,492 were lateral hires, while 2,831 employees were recruited overseas.
Mumbai-based TCS today reported higher-than-expected net profit for the October to December quarter, but its sales growth for the three months was slightly below Street estimates.
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