TCS’ attrition rate falls to 21.3% in Q3 as the company hires 2,197 new employees

The Tata Group backed employees’ workforce was 616,171 in the September 2022 quarter, with a 21.5% attrition rate.

For the quarter ended December 31, 2022, Tata Consultancy Services’ (TCS) attrition rate fell to 21.3%. TCS anticipates that the attrition rate in IT services would continue to fall in the coming quarters. However, the corporation added 2,197 people in the third quarter of fiscal year 23.

The headcount of Tata Group-backed employees was 616,171 in Q2FY23, a net addition of 9,840 personnel from the June 2022 quarter, when it was 606,331.

Advertisement

TCS, on the other hand, had an attrition rate of 21.5% during the previous twelve months in Q2FY23.

TCS indicated in the second quarter that with normalising wage expectations and talent supply coming up across the industry, attrition will begin to drop off in H2 of FY23.