TCS overview
Tata Consultancy Services also known as TCS is an Indian Information Technology services and consulting companies having headquarters in Mumbai, India. The company is a part of TATA group of companies. TCS has 150 locations in 46 countries. It has a revenue of Rs 245,315 crores.
Skill Gaps
TCS is struggling in finding 80000 vacant notable positions due to significant gaps in the skills of prospective employees. Amar Shetye, global operations head of TCS’s Resource Management Group (RMG), revealed that the company has 80,000 open positions, highlighting a mismatch between the skills of current employees and the roles needed, causing RMG to rely on contractors to fill these gaps.
Is Business Uncertainty a Reason for Unemployment?
In North America and Europe, it is seen that due to high business uncertainty, the employers are laying of the employees and not hiring new candidates due to business uncertainty in IT field. Some people think that this is the reason for not hiring candidates in India too.
Employee Headcount
During the financial year ending in March-2024, the combined employee headcount of TCS as well as Infosys and Wipro decreased by nearly 64,000. Ashwin Yardi, CEO of Capgemini India, stated that their campus hiring numbers for this year would be moderated, with last year’s intake being around 30,000 freshers.
Awaiting Onboarding
Krishna Vij, business head of IT staffing at TeamLease, has estimated that 3-5% of freshers hired in 2022 by top IT services companies are still awaiting onboarding due to project visibility issues and a focus on required skill sets and job readiness.