Attrition for the last twelve months stood at 12.5%. In the third quarter, TCS had reported a sequential headcount dip of 5,680.
The company had added 821 employees during the fourth quarter in the year-ago period, ending fiscal year 2023 with 614,795 employees, a net addition of 22,600 over the previous year.
The firm ended FY24 with 13,249 fewer employees compared to FY23.
Also read | TCS Q4 Results: Profit rises 9% YoY to Rs 12,434 crore, beats estimates
Milind Lakkad, chief HR officer of TCS said: “We are pleased to announce the annual increments for our workforce, as we have done consistently every year, with top performers receiving double digit hikes. The reduced attrition at 12.5%, enthusiastic response to our campus hiring, increased customer visits and employees returning to the office have resulted in great vibrancy in our delivery centres and elevated morale of our associates.”
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In the second quarter of FY24, TCS rolls had dipped by 6,333 – its steepest drop since the 2008 crisis – as the company slowed down hiring. The current fiscal year, which saw all top IT companies showing a net decline in their workforce so far, will possibly end with flat or net negative additions for the $245-billion sector, according to Teamlease Digital.
Also read | TCS announces final dividend of Rs 28 per share
