BENGALURU :Tata Consultancy Services missed profit estimates and flagged challenges in Europe as clients tightened spending due to rough economic conditions, while its workforce shrank for the first time since the pandemic.TCS is the first among its peers to report quarterly earnings, setting the tone for an
BENGALURU :Tata Consultancy Services missed profit estimates and flagged challenges in Europe as clients tightened spending due to rough economic conditions, while its workforce shrank for the first time since the pandemic.
The Tata Group flagship said its employee count reduced by 2,197 on a net basis to 613,974 as on Dec. 31, its first such since the onset of the pandemic in the first quarter of fiscal year 2021. In the quarter ended September, TCS added 9,840 employees. The Mumbai-based company's order book for the October-December period stood at $7.8 billion, down from $8.1 billion in the September quarter.
The order wins reflect demand scenario, said Rajesh Gopinathan, chief executive officer and managing director of TCS.
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