Amid economic slowdown due to coronavirus pandemic, the country's top 2 leading software services companies - Tata Consultancy Services (TCS) and Infosys has brought a new ray of hope for freshers. TCS and Infosys are collectively planning to hire around 66,000 engineering graduates from campuses in the financial year 2021-22.
The Tata Consultancy Services (TCS) is expected to hire around 40,000 people in the FY 2021-22, which is similar to last year's hiring.
TCS chief HR Officer, Milind Lakkad said that the new hirings will take place in the first quarter of FY22 which could also extend up to three quarters as well. It will be based on how the demand shapes up.
"Our operating system is very sound. Our rigorous internal talent development goes on around the year. It is based on people coming in from campus and some from the market," said Milind.
The TCS has reported Constant Currency (CC) revenue growth of 4.2 percent for the period of January-March 2021. There was a 6.3 percent increase in net profit to Rs. 9,246 crore during the quarter.
Infosys, which is India's second-largest IT outsourcer, has also announced to hire around 26,000 freshers for FY 2021-22. Last year, Infosys had hired around 21,000 freshers from the campus including 19,000 from India.
The chief operating officer of Infosys, Pravin Kumar Rao has said that the company will actively hire top talent from the market. The freshers will be on a compensation cycle which will be effective from July 2021.
"We have a large number of college graduates in India that can be recruited but lateral recruitment will also continue. The Demand environment is extremely strong," said Infosys CEO Salil Parekh.
Infosys saw a 5 percent growth YoY and has crossed Rs. 10,000 crore revenue milestone in FY21. The digital revenue alone grew by 29.4 percent.