New Delhi : Tata Consultancy Services (TCS) is going to hire 55,000 employees including 25,000 freshers in this fiscal year, as per news reports.
"We are planning to hire 55,000 this fiscal. We have already said that as far as campus hiring is concerned, it will be 25,000," TCS Executive Vice-President and Global Human Resources Head Ajoy Mukherjee told reporters.
TCS Managing Director and Chief Executive N Chandrasekaran said, "In the just-concluded FY 2014, the company had hired 61,200 as against a target of 50,000."
Its net addition of employees, after deducting the number of those who left the organisation, stood at 24,268 in FY 2014. At the end of the fourth quarter, the total employee strength crossed the 3-lakh mark at 300,464, he added.
The employee utilisation level stood at 83.8 percent, excluding trainees and 77.9 percent after including trainees, as of March-end. The attrition level stood at 11.3 percent, while the same was 10.4 percent at the core information technology vertical.
Mukherjee said offer letters for fresh recruits have already gone out and they will start joining from June 1. On the staff increment front, Mukherjee said the company will give 14 percent hike for the high achievers domestically, while the rest will get 10 percent rise. Globally, the raise will be between 2-4 percent in the developed markets and 4-6 percent in developing markets.
Chief Financial Officer Rajesh Gopinathan said higher wages will impact the operating margins, which climbed up to an all-time high of 29.1 percent FY 2014, which will be visible in the first quarter of the current fiscal.