For the first time in 10 quarters, Tata Consultancy Services (TCS) has reported a decline in net hiring during the October -December 2019 quarter ― an indication that India’s top IT company is tightening its operations. The total number of employees at the end of the 2019 quarter was 4,46,475, against 4,50,738 — a decline of 4,263 people.
Yugal Joshi, Vice President at research firm Everest Group, said that the negative net addition of TCS is a reflection of multiple dimensions. In the September 2019 quarter they did significant hiring with 14,000 net employee addition and over 12,000 in the June quarter. This could be a correction.