While the software industry continues to reel under a recession, Tata Consultancy Services, has seen the exit of 5,000 employees.
In the last quarter, TCS added a total of 2,828 employees taking the total headcount to 1,43,761 at the start of the quarter. Including the newly appointed staffers, the total staff count should have hit 1,46,589 by the end of June.
But as of June 30, 2009, TCS showed a head count of 1,41,642, bringing the total headcount down by 4,947 employees.
TCS, however, maintains that the attrition levels were at par with the with the industry average.The attrition rate in Q1 was 11.5 per cent. Foreign nationals formed 8.3 per cent of the total employee base and 30 per cent were women.
Meanwhile, beating expectations, TCS reported a net profit of Rs 1,534 crore (Rs 15.34 billion) up 19 per cent year-on-year for the first quarter ended June 30, 2009.
"While we remain vigilant about the environment, TCS is leveraging its global presence and the investments made in developed and emerging markets to deliver our proposition of certainty, which resonates clearly with customers in these challenging times and helps us create long-term value for shareholders," Chief executive officer and managing director S Ramadorai said, after announcing the results.
