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Nearly 5000 employees quit TCS

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At a time when job losses are grabbing headlines, almost 5,000 employees of Tata Consultancy Services (TCS) have in fact left the company on their own. Last Friday during its quarterly results, the company announced that its annual attrition rate was at 11.5 percent.

The headcount of India`s largest software exporter shrank despite a gross addition of staff. According to Hindustan Times, in the latest quarter TCS added a total of 2,828 employees with the total headcount of 1,43,761 at the start of the quarter. If the new hires are taken into consideration, the total employees strength should have reached 1,46,589 by the end of June. However, the firm`s headcount was at 1,41,642 as of June 30, 2009, showing a net reduction of 4,947 employees.

A company spokesperson confirmed the staff decline but added that TCS`s attrition levels were in line with the industry average. "Our attrition level has remained similar to what it was in the previous quarter. However, since we have controlled gross additions, the overall headcount has come down," said a TCS spokesperson.

The spokesperson added that the company was hiring fresh graduates as per need, but will honor the 24,885 campus offers it had made last financial year and those students would come on board only from the second quarter (July-September). Like its competitor Infosys, TCS decided to honor old commitments on campus recruitments while slowing down the hiring of new graduates. But lateral hiring of experienced staff is continuing, though on a low key. Only time can tell us if these 5,000 employees have in fact quit on their own or were they forced to leave by the company.

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