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TCS Attrition Rate Drops To 17.8% In April-June 2023, Rolls Out Annual Salary Hikes From April 1 – News18

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TCS’ total workforce stood at 615,318 as on June 30, 2023, a net addition of 523 during the quarter.

TCS has also rolled out its annual salary increase across its workforce, with effect from April 1, 2023

Tata Consultancy Services (TCS), the country’s largest IT services company, on Wednesday reported a decline in its attrition rate in the June 2023 quarter (Q1 FY24) to 17.8 per cent for the last 12 months. The rate had stood at 20.9 per cent in the previous quarter ended March 2023, which was also lower than its previous quarter.

TCS has also rolled out its annual salary increase across its workforce, with effect from April 1, 2023, TCS said in a BSE filing on Wednesday.

TCS’ total workforce stood at 615,318 as on June 30, a net addition of 523 during the quarter.

“The workforce continues to be very diverse, comprising 154 nationalities and with women making up 35.8 per cent of the base. The company rolled out its annual salary increase across its workforce, with effect from April 1, 2023. Its investment in upskilling its workforce continues apace. Year till date, 103,000 employees were trained in high demand competencies and collectively, TCSers clocked 12.7 million learning hours, and acquired 1.3 million competencies,” TCS said in the filing.

The company said its IT services attrition dipped further in Q1 and was at 17.8 per cent for the last twelve months.

Before coming to its downward trajectory, TCS attrition touched as high as 28.4 per cent in Q1FY23. It then slipped to 27.1 per cent in Q2FY23 on a trailing twelve-month basis.

TCS on Wednesday reported a consolidated net profit of Rs 11,074 crore for the June 2023 quarter.



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