TCS attrition rate continues to rise, but ’moderating’
While announcing its Q4FY22 earnings, IT giant Tata Consultancy Services said that its IT services attrition continued to climb during the January-March 2022 period, reaching 17.4%. "The company’s philosophy of investing in people, and its progressive workplace policies have resulted in industry leading retention in an environment of increased churn," India's top IT company said in a statement. Attrition rates have been high across IT companies through the last few quarters as demand for technology talent with digital skills continued to outstrip supply with increasing labor costs. The IT giant's Q4 consolidated net profit rose over 7% to ₹9,926 crore as compared to ₹9,246 crore in the year-ago period, on the back of 16% rise in revenue from operations at ₹50,591 crore for the quarter ending March, 2022.
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