Chandigarh University (CU) uncovers good news for its Computer Science and Information Technology students as India's largest software firm, TCS has recently increased its hiring target to 75,000 from 60,000 for this fiscal due to its promising demand in the software industry. According to the company, the attrition rate has stabilized at 16.2% during the second quarter as compared to the previous quarter, consequently raising the need to bring it down in the later quarters of the fiscal.
Executive vice president and global head Ajoy Mukherjee said, "We have revised upwards our hiring target due to the strong growth witnessed in the first half of the year. Accordingly, we will be hiring 75,000 this fiscal as against 60,000 as planned earlier." Such attrition in the domestic market is unbearable and the company has witnessed a remarkable decline on a month-on-month basis.
In order to bring-in satisfactory conditions, the company has earlier raised its hiring target by 10,000, resulting in desired improvement. The total revenue generated by the firm this quarter stands at Rs 27,165.50 Crore and revenue from a Digital Service segment also hiked by 13%-- said MD & CEO N Chandrasekaran.
Illustrating the employment as a wide phenomenon, Mukherjee said, "everyone who leaves ... people that we have in IT, it includes BPO, it includes people who have been hired for a project and once the project is over then they leave, all that is counter as attrition."
Ref:- http://www.hindustantimes.com/business/tcs-ups-hiring-target-by-15k-to-take-in-75-000-this-fiscal/story-WCRxp6UE6tkVpezGkuIeDL.html
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