TCS plans to hire about 38,000 this fiscal

IT major Tata Consultancy Services today said it is planning to hire about 38,000 personnel to improve efficiencies and generate better returns.

"We are hiring a total of around 38,000 people out of which 20,000 would be trainees and 10,000 laterals," TCS global human resources head Ajoy Mukherjee said here today.

"In the past fiscal, we have been through an entire business cycle where controlled hiring in the first two quarters gave way to rapid recruitment in the last two quarters. We have made 20,000 campus offers for this fiscal," Mukherjee said, adding the country's largest software exporter hired 16,668 new employees in the fiscal gone-bye, taking the total strength of employees to 1,60,429.

TCS has also filed for new 600-700 H1B visas this year mainly due to business coming back from countries like the US, Latin America and Europe, he said.
      
The Tata Group company also plans to recruit over 3,000 people on onsite in like Brazil, Uruguay, China and in Latin America, among others. Besides, in certain countries such as China, Brazil and Poland, it plans to hire locals, he said.
    
Commenting on attrition, he said it continues to be stable at 11.8 per cent on a LTM basis (a calculation of consolidated earnings before interest, taxes, depreciation and amortization for any four quarters obtained by adding the components of consolidated Ebitda for such period).
    
Overseas nationals formed over 10,700 or 6.7 per cent of the total employee base with employees from 80 different nationalities, he said. Out of 11.8 per cent attrition rate, 2 per cent was voluntary resignations in the company in the last fiscal, Mukherjee said.
    
In FY10, the company clocked a consolidated net profit of Rs 7,000.64 crore, up 33.19 per cent compared to the year-ago period, while its revenue for the period stood at Rs 30,028.92 crore, up nearly 8 per cent from the year-ago period.