TCS Headcount Drop: Hiring Slowdown, Not Just Restructuring, Drives Workforce Contraction

• TCS's workforce shrank by nearly 30,000 employees between September and December quarters.
• Only about 7,800 employees were released due to restructuring, indicating over 22,000 exits from other reasons.
• TCS CHRO Sudeep Kunnumal stated selective recruitment continues, with employee releases only after redeployment options are exhausted.
• Attrition marginally rose to 13.5% in the December quarter, supporting the view of a hiring slowdown rather than mass exits.
• HCLTech showed a more stable headcount and continued onboarding freshers, unlike TCS's contraction.

Why It Matters: TCS's workforce reduction is primarily due to a significant hiring slowdown, not just restructuring efforts.