TCS Exits Soar Beyond Restructuring: 22,000+ Departures in 2 Quarters

• Tata Consultancy Services (TCS) saw over 22,000 voluntary exits in two quarters, separate from its restructuring process.
• The company's headcount dropped by 30,000, with only 7,800 attributed to restructuring-linked releases.
• This significant decline is primarily due to a sharp slowdown in hiring, not just increased attrition.
• TCS continues to hire from both lateral and campus channels, despite releasing employees where redeployment isn't feasible.
• HCLTech's headcount remained relatively flat, adding freshers but also experiencing attrition and selective rationalization.

Why It Matters: TCS's significant headcount reduction is largely due to slowed hiring and voluntary exits, not just restructuring.