23 June 2011

More than 31,000 employees left TCS in FY'11

Confirming the high attrition in the IT industry, country's largest software exporter TCS has said 31,500 employees left the organization in 2010-11 while the company hired 69,685 new employees in India and overseas.

The net additions during the year stood to 38,185 people, TCS said in its Annual Report 2010-11.

TCS's headcount stood at 1,60,429 as on April 1, 2010, which increased to 1,98,614 as on March 31 this year.

In terms of gross additions, 62,092 people were added in India, while 7,593 were added overseas, it said.

During the year, 26,899 people hired from India quit, taking the net addition to 35,193 in India.

With the return in demand for IT services, attrition has become the major concern for IT firms. The industry is now on a hiring spree to counter the trend.

For the overseas operations, the attrition was high with 4,601 people leaving the firm in fiscal year 2011. The net addition stood at 2,992 people for the overseas operations.

"The company continues to invest in talent development through a well-established Academic Interface Programme, providing internships, conducting faculty development programmes, conducting student workshops to orient students to the IT industry and sponsoring technical and research programmes in various institutes," it said.