No change in campus hiring target of 35,000 for FY16, says TCS CEO

Mumbai: Country’s largest IT services firm TCS today said it is sticking to its hiring target of 35,000 from campuses for FY16. [caption id=“attachment_1973531” align=“alignleft” width=“380”]  TCS CEO and managing director N Chandrasekaran. Reuters[/caption] “We’ll stick to hiring plans, no change,” its Chief Executive Officer and Managing Director N Chandrasekaran told reporters on the sidelines of the annual Nasscom India Leadership Forum 2015 here. Notably, in October last year, the Tata Group company had announced that it will hire 35,000 freshers from tech schools in FY16, up from the 25,000 hirings done in FY15. However, it retrenched around 1,000 employees for non-performance towards the end of the fiscal, leading to widespread criticism and anxiety about its strategy. When asked if the salary structures will be the same as earlier, Chandrasekaran did not give a direct reply, saying that the company will visit campuses later. He, however, did not specify the gross hiring, including freshers and laterals, for the next fiscal. On industry body Nasscom’s target of 12-14 percent exports growth in FY16, Chandrasekaran said TCS generally grows faster than the annual number, but declined to give a guidance. “We will wait, but in general we’ve always exceeded the Nasscom forecast,” he said, adding that the industry body’s target should be taken as a “given” because of the efforts it takes in arriving at it. When asked if Nasscom is conservative in its guidance, he declined to give an answer and said that he will comment for TCS after announcing its quarterly results in April. Asked about client budgets and spending for 2016, Chandrasekaran said the momentum is good for the technology sector, primarily on the back of adoption of digital technology. PTI