TCS CEO affirms steady hiring, advocates office return
MUMBAI, INDIA — In the face of a hiring slowdown across the software industry, Tata Consultancy Services (TCS) CEO K Krithivasan has declared the company’s intention to maintain its recruitment levels, adjusting the pace as necessary to match market demands.
Speaking at the Nasscom Technology and Leadership Forum (NTLF) 2024, Krithivasan emphasized the company’s optimistic outlook and commitment to growth.
“As we are already seeing some green shoots in the economy, we need more people for more work. In fact, we have no plans to reduce our hiring plans and will continue to hire the same way as we have been doing,” he stated.
TCS boasts a significant employee base exceeding 600,000.
Despite not disclosing hiring figures in the last quarterly earnings report, TCS showcased a robust 8.2% increase in net profit for the December quarter, achieving Rs 11,735 crore (US$1.42 billion). This growth was partly fueled by strong domestic market performance, despite a slight downturn in the United States, its largest market.
Highlighting the company’s diverse workforce, Krithivasan noted that women constitute approximately 35.7% of TCS’s employees.
The CEO also made a compelling argument for ending remote work, citing the critical role of in-person interactions in fostering company culture and values.
This push towards office work is in line with client preferences, with Krithivasan pointing out that nearly all TCS clients favor an on-site workforce. This strategy aims to enhance collaboration and secure the company’s competitive advantage in the industry.
“I believe the work-from-home/hybrid model is not the right way to grow both individually and for organizations. As an organization, we value collaboration and camaraderie, and this cannot be achieved through Zoom calls or other online mediums,” the TCS CEO added.
