TCS Chief Executive Officer, Ok Krithivasan said, “We are happy with good performances in the third quarter. Growth has increased in verticals like banking and financial services.” However, the Communication and Media Wartical for the company has declined by 10.6 percent on a year-on-year basis. Apart from this, a decrease in healthcare and services vertical has also been recorded. For the company, India’s region has increased more than 70 percent on a year-on-year basis. However, this growth was 95.2 percent in the previous quarter.
The total contract value for the company was around $ 10.2 billion. TCS workforce has decreased by about 5,270 workers in the third quarter. The quiting rate in the company increased to 13 percent. TCS has about 6,07,354 workers. It is one of the major companies that provide employees in the private sector in the country.
In the last few months, many big technology companies including Microsoft have trimmed a large number of workers. In these companies, hiring has increased in artificial intelligence and machine learning new segments. Milind Lakkad, Chief Human Resource Officer of TCS, said, “The company has promoted more than 25,000 associates in the last quarter. This financial year has more than 1,10,000 promotions. We are continuously investing in workers’ upscirling. Our plan for campus hiring is intact this year. ” Last year, the company imposed restrictions on the policy of the work-form-home. The company had told that in a quarter, less than 60 percent of the office coming to office will not get any variable for that quarter. Workers with 60-75 percent attendance in TCS office will get 50 percent of variable pay, and 75-85 percent attendance with 75 percent. Workers with more than 85 percent attendance in the office will get the entire variable pay for that quarter.
