Tata Consultancy Services (TCS) has said it has no plans to trim hiring but wants to end work from home.

“We have no plans to reduce our hiring plans and will continue to hire in the same way as we have been doing (till now). Probably, we will have to change the hiring phase but we will not cut our hiring plans, for sure,” TCS chief executive K Krithivasan said in a Nasscom session on Tuesday.

TCS is the largest Indian software exporter in terms of headcount, revenue and
profit.

The statement comes amidst a report that the software industry is going soft on hiring as demand falters from their key markets and some of them are even going back on their campus offers.

Last week, industry body Nasscom said the industry added only 60,000 jobs in FY2023-24, taking the overall headcount to 5.43 million.

“As we are already seeing some green-shoots in the economy, we need more people for more work,” he said.

TCS employs more than 6 lakh people.

Krithivasan also said the company continues to be cautiously optimistic in the medium to long term.

The company did not commit to a hiring number at the press conference held after the software giant announced its third quarter earnings.

During the October-December quarter, TCS reported an 8.2 per cent growth in net profit for the seasonally-weak quarter at Rs 11,735 crore, driven by a massive growth in the home-market but a 3 per cent decline in its largest market US from where it earns over two-thirds of its income.

Krithivasan said more than 2 lakh or around 35.7 per cent of their over 6 lakh workforce are women.

The CEO said everybody wants to leverage Generative AI, so there are a lot of opportunities. But he warned that critical thinking cannot be replaced by technology.

PTI