Despite a drop in revenue in the first quarter owing to the Corona pandemic, Tata Consultancy Services has planned to recruit 40,000 fresh candidates from college campuses as it did last year, according to HR officials of the company.
Similarly, it also plans to double its US campus recruitment this year with an aim to reduce dependence on H1B and L1 work visas. It will recruit graduates from the top 10 business schools in the US. The firm had hired more than 20,000 Americans in the past five years. The net profit of the company fell 13 per cent in the first quarter, ending June.
Commenting on the Q1 performance, Chief Executive Officer and Managing Director Rajesh Gopinathan said:“The revenue impact of the pandemic played out broadly along the lines we had anticipated at the start of the quarter. It affected all verticals, with the exception of Life Sciences and Healthcare, with varying levels of impact. We believe it has bottomed out, and we should now start tracing our path to growth.”
“After an initial period of disruption, customers have now stabilized their operations and are now embarking on new beginnings to adapt and thrive in a post-pandemic world. We are seeing many customers focus on front-end transformation, resulting in significant traction for our products and services. The other big investment themes are around driving operational resilience, adaptability and optimization. We signed several large core transformation programs encompassing operations, applications, cloud and cybersecurity.”
Other leading software companies such as Wipro and Cognizant too have promised to recruit candidates from colleges.