TCS bags 20,000 undergraduates for 2011

IT services provider also takes on more than 10,000 staff and sees volume growth up 17 per cent

TCS increased its staff more in the fourth quarter 2010 than at any other time in its history

IT services provider TCS increased its staff more in the fourth quarter of 2010 than at any other time in the company's history.

Staff increased by 10,775 during the quarter with a gross addition of 38,063 for the full year. Some 160,429 staff work at the company.

The company also saw revenues increase 5.38 per cent year on year, to $6.34bn (£4.13bn). Net profit increased by 29 per cent year on year to $1.45bn (£0.94bn)

There has been volume growth at the company of 17 per cent.

Ajoy Mukherjee, TCS' vice president and head of global human resources, said: “We have been through an entire business cycle in 2010 where controlled hiring in the first two quarters gave way to rapid recruitment in the last two quarters. We have also made 20,000 offers to undergraduates for 2011.”

“Our initiatives to provide a holistic professional career for our employees has helped keep attrition rates stable,” he added. The staff attrition rate was 11.8 per cent for the fourth quarter.