BEL Recruitment 2022: 150 openings for trainees, project engineers; how to apply
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Interested candidates can apply on the official website of Bharat Electronics Limited (BEL) on or before August 3, 2022.
Bharat Electronics Limited (BEL) has released a notification for the recruitment of 150 trainee/project engineer posts on contract basis. Eligible candidates can apply on the official website of Bharat Electronics Limited (BEL) on or before August 3, 2022.
Step 2: On the homepage go to the ‘Career Section.’
Step 3: Under career section, find and click on the apply link for the section reads “Recruitment of Project Engineer-I /Trainee Engineer-I for Assembly, Testing & Troubleshooting of EVMs & VVPATs for EM SBU-Bengaluru.”
Step 4: Select the post for which you want to apply and then register to login with your provided credentials.
Step 5: Complete the application and proceed to the payment gateway.
Step 6: Pay the specified application fee and click on the ‘submit’ button.
Step 7: Your application will be submitted upon successful payment, download the same and keep a copy of it.
Application fee
Candidates must pay an application fee of Rs 472 and Rs 177 when applying for the post of Project Engineer and Trainee Engineer, respectively.
The candidates of the SC/ST/PWD category are exempted from paying the application fee.
Age limit
For the post of Project Engineer, the candidates can be a maximum of 32 years of age.
For Trainee Engineer, the candidate can be maximum of 28 years of age.
Educational qualification:
As per the notification, “Candidates must have a 4 years full time degree in B.Sc (Engg.)/B.E/B. Tech Engineering course from any AICTE recognised Institute/University in the disciplines of Electronics/Electronics & Communication/Electronics. &Telecommunication/Telecommunication / Communication/ Mechanical/Electrical/Electrical & Electronics/ Computer Science/ Computer Science Engineering/ Computer Science & Engineering.”
Candidates are advised to check the notification link for further details.
Vacancies
There are a total of 150 vacancies to be filled in the BEL recruitment 2022.
Trainee Engineer -I
Discipline wise number of posts as per the official notification:
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AAI JE ATC Admit Card 2022 released: Here’s how to download and other details
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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All candidates must carry their AAI ATC Admit Card 2022 to the exam hall. Candidates who fail to do so will not be allowed to enter the exam hall. Additionally, the admit card will also be needed to check the ATC JE results later.
The Airports Authority of India has released the admit card for the Junior Executive (Air Traffic Control) exam 2022 for all the registered candidates on its official website. Candidates can download the AAI ATC JE 2022 admit card from the official website – aai.aero.
Here’s how to download AAI ATC JE Admit Card 2022
Step 1: Go to the official website of Airports Authority of India at www.aai.aero
Step 2: Go to the recruitment section displayed on the homepage. In that section find and click on the link that reads “DIRECT RECRUITMENT FOR THE POST OF JUNIOR EXECUTIVE (AIR TRAFFIC CONTROL) IN AAI UNDER ADVT. NO. 02/2022”
Step 3: A new page will open. Go to the admit card section
Step 4: Enter the required login details in the specified fields
Step 5: Your AAI ATC JE 2022 admit card will appear on the screen
Step 6: Download the admit card and take a printout on A4-sized paper
All candidates must carry their AAI ATC Admit Card 2022 to the exam hall. Candidates who fail to do so will not be allowed to enter the exam hall. Additionally, the admit card will also be needed to check the ATC JE results later.
The Airport Authority will conduct the JE ATC Examination 2022 on July 27, 2022. The AAI had announced the exam date for Junior Executive (Air Traffic Control) post through the official notification. The Air Traffic Control examination is the entrance test conducted to fulfil the posts of Junior Assistants, which is a government service. A total number of 400 posts have been out against the AAI JE ATC recruitment as per bgsuniversity.org.
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Now, UK and India will recognise each other’s higher education qualifications
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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This had been made possible thanks to the UK-India Enhanced Trade Partnership (ETP), a memorandum of understanding signed on Thursday. ETP was earlier agreed upon by Prime Minister Boris Johnson and Narendra Modi last year.
Your higher education qualifications would now be recognised by the UK, and India would do the same to British qualifications, enabling a smoother movement of students between the two countries.
This had been made possible thanks to the UK-India Enhanced Trade Partnership (ETP), a memorandum of understanding that was signed on Thursday.
ETP was agreed upon by former UK Prime Minister Boris Johnson and Narendra Modi last year. This new agreement means that UK A-levels and their equivalents, undergraduate and postgraduate degrees would now be recognised in India.
It will also allow Indian students who graduate from British universities to apply for postgraduate qualifications or government jobs requiring university qualifications.
“This is a landmark, historic agreement, which has been many years in the making. Qualifications students receive will be recognised on both sides, making it easier for students to progress in education and move into jobs,” said Vivienne Stern, chief executive of Universities UK International (UUKi). The body represents over 140 UK universities.
According to official statistics, 84,555 Indian students went to the UK for higher studies in 2020-2021, making it one of the popular destinations for students in the South-Asian republic. This latest agreement is expected to make UK universities even more appealing to Indian applicants and is likely to provide an economic boost to the UK.
“We are delighted to deliver on our promise to unblock barriers to trade between the two nations and make UK higher education even easier to access and more appealing to Indian students,” said UK International Trade Secretary Anne-Marie Trevelyan.
“The pact is also seen as enhancing the potential for UK nationals to travel to India to study, allowing them more choice and broadening their academic and educational horizons, as well as opening the door for institutions to create courses that can be delivered in both countries,” said UK Education Secretary James Cleverly.
“This agreement builds on our UK-India partnership and removes barriers so even more of the best and brightest students from India can study here, boosting our economy and enriching our campuses and communities,” Cleverly said.
India and the UK signed two other agreements implementing the ETP. This included commitments to create a task force to provide opportunities for Indian nursing candidates to work in the National Health Service (NHS) and to renew a commitment for mutual recognition of the Seafarers’ Certificate of Competency.
Trade between the UK and India is worth over 24 billion pounds, and this investment relationship supports over half a million jobs, UK Department for International Trade (DIT) noted. The British government has secured new access under the ETP to India’s market, which businesses estimate will unlock approximately 92 million pounds of additional exports every year, it added.
With inputs from PTI
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CBSE Class 10 result declared; here’s how to check and download scorecard
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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CBSE Class 10 result declared: The Central Board of Secondary Education has announced the results for Class 10 board exams on its official website. Here’s how to check
The Central Board of Secondary Education (CBSE) announced the results for Class 10 board examinations on its official website on Friday, hours after Class 12 results were declared.
Results show that 94.40 percent of students cleared the exam.
To get their scorecard online, students can visit multiple websites including cbse.gov.in, results.cbse.nic, cbseresults.nic.in, results.gov.in and digilocker.gov.in.
Here’s a step-by-step guide on how to check CBSE Class 12 result
1. Visit cbse.gov.in or results.cbse.nic.in
2. Click on the result link.
3. Choose either of the three result links
4. Enter roll number, school number, and admit card number.
5. CBSE Class 10 scorecards will appear on the screen
6. Students can download and take a printout for further references
Similar to Class 12 results, girls outperformed boys by a margin of 1.41 percent in Class 10 too. The pass percentage of girls stood at 95.21 percent while 93.80 percent of boys cleared the exam. The pass percentage of transgender candidates is 90 percent.
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CA Inter topper Rajan Kabra is also a blockchain buff
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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ICAI CA Intermediate 2022: The topper Rajan Kabra, who takes inspiration from his father who is also a CA, said he is interested in blockchain and is taking online lessons on the technology.
Institute of Chartered Accountants of India (ICAI) CA Intermediate 2022 topper Rajan Kabra scored a stellar 666 out of 800. His family and former coach were ecstatic but not surprised because the student has a history of getting all-India ranks.
Kabra had also topped ICAI’s foundation exam back in July 2021.
Now, he’s all to set to take his first step into the professional world as he’s been training and looking for an articleship.
How did he get here
For starters, Kabra is an early bird. He wakes up between 4 am and 5 am when he’s preparing and revising for exams and when he has to attend lectures, his day starts at 7 am.
And Kabra focuses on sleeping for at least eight hours. “I had experimented earlier, like six or seven hours of sleep, but then I mess up in the examination. So, it’s better to get proper sleep,” he told CNBCTV18.com.
While most people crib about the lockdown induced by the COVID-19 pandemic, a few like this 20-year-old consider it a “boon in disguise.”
“Classes were happening online. So, I could sit at home and attend the lectures of faculties from Mumbai, Pune, and Kolkata. I got the benefit of the best faculties, and there was flexibility, as I could watch the lectures anytime I wanted,” he said.
Kabra explained that the time between the two examinations was reduced by two months, and so, unlike the foundation exam when he stressed on writing practice, for the intermediate exams, his focus was on completing lectures and conceptual understanding of all subjects.
“The institute (ICAI) is not asking (questions in the tests) from the regular pattern. Small concepts are being asked in the examination. So, it’s better to have conceptual understanding,” he said, adding that he couldn’t attempt as many mock papers as he did earlier because of time constraints.
The topper kid loves blockchain technology
The topper takes inspiration from his father, who is also a CA but says he is also interested in blockchain and is taking online lessons on technology.
“I am taking a few online courses and learning from YouTube videos. So, there are no formal studies. But, in my free time or whenever I’m bored with conventional studies, I try to explore new technologies like blockchain,” he said.
When asked why he chose a conventional field like CA and not one of the other exciting professions that youngsters are going for these days, he said CA had been a base for commerce, and it’s the noblest profession.
Nowadays, people do CA and then explore new things like data analytics, blockchain, etc. “I’m just learning the technology currently, I’m not into it completely,” he said.
He said he would do his articleship for three years and then take a call on exploring other fields according to the experience he gains.
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CBSE Class 12 result announced; here’s how to check and download scorecard
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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The Central Board of Senior Secondary Education (CBSE) announced the results of Class 12 board examinations on Friday. Here’s a step-by-step guide on how to check CBSE Class 12 result
The Central Board of Secondary Education (CBSE) announced the second term and final results for Class 12 board examinations on its official website on Friday.
Students can check their results on several websites including cbse.gov.in, results.cbse.nic, cbseresults.nic.in, results.gov.in and digilocker.gov.in.
Here’s a step-by-step guide on how to check CBSE Class 12 result
1. Visit cbse.gov.in or results.cbse.nic.in
2. Click on the result link.
3. Choose either of the three result links
4. Enter roll number, school number, and admit card number.
5. CBSE Class 12 scorecards will appear on the screen
6. Students can download and take a printout for further references
This year, CBSE Class 12’s overall pass percentage is 92.71 percent
A total of 14,44,341 candidates registered for the exam and 13,30,662 out of 14,35,366 who appeared passed the exam.
As many as 33,432 students have scored above 95 percent. Girl candidates have outperformed better than boys by 3.29 percent as the pass percentage of girls is 94.54 percent and that of boys is 91.25 percent.
The highest pass percentage was recorded in Kerala’s Trivandrum at 98.83 percent, followed by Karnataka’s Bengaluru and Tamil Nadu’s Chennai with 98.16 and 97.79 percent respectively. Delhi East and Delhi West regions were next in line with pass percentages of 96.29 each.
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What Wipro is doing right to ease attrition issues — other IT firms might want to take notes
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Wipro managed to bring down its attrition levels marginally while its peers Tata Consultancy Services (TCS), HCL Tech, and Mindtree witnessed an increase in the levels despite high demand. Here’s what Wipro did differently
Tech giants Wipro, Tata Consultancy Services (TCS), HCL Technologies and Mindtree hired between 3,400 to over 15,000 employees in the first quarter of this fiscal but only one of them was able to bring down its attrition rate — the number of people exiting the firms.
Wipro managed to reduce its attrition rate marginally to 23.3 percent in the April to June 2022 period from 23.8 percent in the previous quarter — thanks to quarterly promotions, flexibility and salary hikes among other measures. However, the company’s attrition rate was much higher when compared to 15.5 percent during the corresponding quarter last year.
The Bengaluru-based IT firm had earlier announced it was switching to a quarterly promotion cycle, effective July salary and increases for those eligible in September 2022. The moves seem to have worked as it expects attrition rates to drop further in the July to September quarter.
“We are guiding that in Q2 as well we will see a further drop. So it will be three quarters in a row where we are seeing contraction in attrition and this is driven by a number of factors in terms of growth, opportunities, promotions, rotation, the technology people are working on, the environment in which we are, the flexibility they have, their belongingness to the organisation,” Saurabh Govil, Wipro’s Chief Human Resources Officer told CNBC-TV18.
He said, all such factors come into play for an employee and the firm hopes to continue with the strength over the coming quarters as it also sees green shoots of stabilisation as far as the macro environment is concerned.
Wipro vs IT peers
Govil’s remarks come at a time elevated employee costs have been troubling Wipro’s tech peers and eating into their margins despite high demand.
For instance, TCS added 14,136 employees to its workforce in the quarter under review but its attrition rate during the period jumped to nearly 20 percent. Milind Lakkad, TCS’ Chief HR Officer, meanwhile said, following the annual compensation review, employees received salary increases of 5 to 8 percent with top performers getting even more significant hikes.
However, in the April to June 2022 period, TCS’ net profit declined 4.5 percent compared to the previous quarter as employee costs and high attrition led the margin to shrink.
HCL Tech too brought in 6,023 freshers during the quarter while its net hiring during the period stood at 2,089. However, its attrition rate rose to 23.8 percent compared to the March quarter when it was 21.9 percent. On a year-on-year basis, HCL Tech’s attrition level has risen by 12 percentage points from 11.8 percent in the first quarter of the 2021-2022 fiscal.
The attrition rate at Mindtree also worsened to 24.5 percent in the three-month period, from 23.8 percent in the March quarter even as it hired 3,400 people for the quarter ending June 2021, its highest in a quarter.
In addition to ramping up hiring to cater to growing demand, Mindtree is looking at the second round of hikes up to the mid-management level, the company’s CEO Debashis Chatterjee said after the quarterly results.
Meanwhile, a report in May said that Infosys also offered its employees massive hikes, promotions and bonuses. The company plans to offer an average rise of 12-13 percent to its employees in India, a Mint report said, adding that the tech firm will also give high-potential employees a hike up to 20-25 percent including a retention bonus.
Infosys is offering its top performers better roles and opportunities to learn new skills like Artificial Intelligence (AI) and machine learning (ML), it said.
Whether Infosys’ move will result in a lower attrition rate remains to be seen as the company is due to report its financial results for the April to June 2022 quarter on Sunday.
In a research note earlier, ICICI Direct had said attrition across companies would continue to be high and, hence, cost to backfill attrition (at higher costs) and costs related to retention, bonus, rationalisation of compensations are expected to put pressure on margins.
Will high attrition trend continue for IT companies?
While recruitment in the IT sector which was on a roll for the past two years has started to show early signals of slowing, thanks, especially to startups, analysts expect the trend of shrinking tech margins to continue going forward, despite robust demand for technology across other sectors.
Meanwhile, Siva Prasad Nanduri, Chief Business Officer at TeamLease Digital, told CNBCTV18.com “Currently, we are seeing an attrition rate of around 35-49 percent QoQ. However, the current quarter looks to be stable and we are anticipating the pattern to be around 20 percent for Q2 for FY23.”
According to him, to bring down attrition levels further, organisations are relooking back-to-office calls and making hybrid as their work portfolio and are also upskilling and reskilling employees with respective wage corrections wherever needed.
Nanduri said the overall hiring intent looks very positive and the demand in the current quarter is more than the first quarter and is expected to continue.
In a separate interview with CNBC-TV18, TeamLease Services’ Chief Financial Officer Ramani Dathi had earlier said, “there are early signals of a slowing hiring trend but for this quarter, we are not seeing any impact in terms of the number of open positions in the IT industry.”
With inputs from Reema Tendulkar
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ICAI to announce CA Intermediate Result 2022 today: Here’s how to check your scores
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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According to the ICAI notification, the result for the Chartered Accountants Intermediate Examination, which was held in May, will be announced on July 21
The Institute of Chartered Accountants of India (ICAI) will announce today the results of the Chartered Accountants Intermediate examination, which was held in May, the ICAI notification said. However, the institute has not confirmed the time yet.
To download the CA Intermediate Result 2022, candidates will require their registration number, PIN number and roll number, the official notification released by ICAI on July 19 stated.
How to download CA Inter result 2022
Candidates can follow the simple steps given below to check and download the ICAI CA Inter result 2022 from the official website https://icai.nic.in/caresult/.
On the home page, candidates will have to click on CA Intermediate Result 2022 link.
A new page will open in which the candidate will be asked to enter the credentials such as registration number, PIN number, and the roll number.
Once the candidate submits the details, ICAI CA Inter result 2022 will be displayed on the screen.
The candidate can check the scores and download the result. They can keep a hard copy of the same for future reference.
The ICAI CA Inter and Final exams for May 2022 session were held in offline mode from May 14 to May 31, 2022. ICAI had announced the CA final results for the May 2022 session on July 15.
Anil Shah from Mumbai secured the top position this year in the CA final exam with a score of 82.5 percent. Akshat Goyal came in second and Shrushtu Keyurbhai Sanghavi came in third with 79.88 percent.
A total of 1,18,771 candidates appeared for the CA final exam, which was held in 489 different locations across the nation. ICAI is also expected to announce the CA Foundation result May 2022 soon.
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Indian students in US struggle to stay afloat amid rising expenses, dwindling job opportunities
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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With a weakening rupee, Indian students in the US are considering taking top-up loans or increasing their education loan amount just to be able to afford the rising cost of living — a few are taking up tutoring and other side jobs to meet their daily expenses.
Indian students who have gone to the United States after taking hefty education loans — at least Rs 30 lakh — find themselves with the short end of the stick. A weakening Indian rupee and soaring inflation in the US have forced many to add to their debt just to keep themselves afloat.
The rupee hit its lowest level at 80 against the dollar index on Tuesday. Students are considering availing top-up loans or increasing their education loan amount to be able to afford the rising cost of living in the US, said Ankit Mehra, CEO and co-founder of GyanDhan, an education financing marketplace.
Mehra told CNBCTV18.com that students are looking for top-up loans of up to 10 percent of the principal. In absolute terms, they need an extra Rs 2 to Rs 10 lakh, averaging at about Rs 5 to Rs 6 lakh for most students, he said.
Why do students still want to study abroad?
Education consultant Athena Education said its recent batch of scholars is headed to college this year as intended and that inflation is not a barrier.
The company’s co-founder Poshak Agrawal believes that such financial cycles are bound to recur, but the quest for knowledge is a constant. The intellectual depth, network, and weightage that immersive learning brings must be looked at. Inflation is a temporary factor; education from an elite university is an asset for life, he said.
“On the one hand, the dollar’s value with respect to the rupee increases the cost of education marginally for the parents paying for their child’s tuition fee, living expenditures, food costs, etc.
“However, on the other, for so many scholars who have graduated and have jobs in the US or are interning, their purchasing power has risen. They can support their Indian family more with the same dollars earned. Their salaries and stipends have greater power now,” he said, explaining the proof of return on investment.
The GyanDhan CEO too indicated a robust demand by students to study in the US as his organisation is still getting a similar number of financing applications and inquiries as before the rupee started to sink.
“We have seen a significant increase in the number of students targeting studies in the US. The COVID-year saw a contraction, but since then volumes have picked up dramatically, he said.
Year
Growth rate in loans at GyanDhan
2020
-25.51%
2021
267.09%
2022 (YTD)
140.81%
Source: GyanDhan
This, even as data shared by GyanDhan shows university costs have outpaced inflation even in recent years.
Source: GyanDhan
Parents back home feel the inflation heat
Another dilemma that Indian learners in the US are facing is whether to avail an additional loan or delve into savings to have sufficient money to fund their stay in the US and fulfill their dream of studying abroad, according to the GyanDhan co-founder. The cost of education is increasing in the second year, as opposed to the first year as of now, he said.
Roopali Birman, Head of Counseling, iSchoolConnect, also said that parents are worried about the rising financial load. Overseas education costs have increased by 25 percent in the last six years, she said, adding “high-interest rates on education loans coupled with hiked spending due to the sinking rupee value are adding to their financial woes”.
According to Birman, discouraged by the unaffordability of higher education abroad, “many aspirants are turning to domestic colleges”.
Saurabh Arora, CEO & founder of University Living, a global student accommodation marketplace, said rupee depreciation is never good, especially for an import-driven country like India.
He said students residing in the US who are being funded by their parents from India are facing some difficulties in paying for accommodation and other expenses as their purchasing power is decreasing. The Indian parents are depositing higher amounts but the students based in the US are receiving a lesser value, which is becoming challenging, he explained.
“Currently, the students are required to pay second instalments on the rent and the rupee depreciation might create challenges and the same is the case with loans and their interest rates,” Arora told CNBCTV18.com.
Akshay Chaturvedi, Founder & CEO, Leverage Edu, suggests that students can draw loans in India in INR and pay the entire tuition fee off in a single go to avoid any forex fluctuations later.
According to him, students don’t simply make destination choices on comparatively small changes in their overall expenditure. They know it’s an investment into their future and they are fully focused on making the most out of this opportunity, he said.
Chaturvedi said his firm is also assisting students in opening bank accounts in destination countries that store foreign currency before students arrive, making those funds unfettered in case there is a global currency flux.
Some students take the ‘extra class’ route
Devina Aggarwal, who is pursuing an undergraduate degree in economics from Yale University, said she finished her spring semester in May this year and there was a massive difference in her expenses as compared to those she incurred during the fall semester that ended in December.
She said she was having to spend extra on basic essentials, and cut back on eating out frequently, and other leisure activities. “If I was spending say, Rs 20,000 for my personal expenses in the first semester, in the second one I was spending close to Rs 30,000 to Rs 35,000,” she said.
The 20-year-old, though didn’t take an education loan, said her parents are now feeling the pressure as they need to submit the hiked fee for the second year of college that starts in August.
Aggarwal is taking part in orientation programmes for freshers, for which she’ll be paid close to $300-400 a week, and is also taking Hindi classes to earn some extra cash.
Are there enough jobs though?
The question that then arises is whether students are able to find suitable jobs and salary packages via campus placements and other mediums such that they’ll be able to make up for the additional borrowings.
Mehra explains that there’s a dip in the number of job openings, especially in the tech sector which Indians mostly look to specialise in, and there is sort of a freeze on “crazy” hikes witnessed during the Great Resignation scenario.
He pointed out that recessions (which reports say can happen earlier than expected) typically see unemployment rates inch upwards and the number of job openings being lower. The current unemployment rate in the US is 3.6 percent and has been on a downward/flat trajectory.
When asked about the mass layoffs at big tech companies like Microsoft and Meta, Mehra said there may not be as many opportunities at tech giants in the Silicon Valley probably, but there are other relatively smaller companies that would willingly hire Indian IT talent.
Athena Education is of the view that it’s still too soon to claim that there are fewer opportunities. “There remains a huge shortage in skilled labour in the US, especially among STEM majors. Big tech companies could be laying off, but there are several smaller boutique firms and startups that are looking for a diverse workforce,” co-founder Agrawal said.
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Wipro added more than 15,000 employees in first quarter as the attrition rate dips to 23.3%
KV Prasad Jun 13, 2022, 06:35 AM IST (Published)
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Wipro’s hiring in the the first quarter of FY23 has been higher in comparison to its peers. HCL Tech added 2,089 employees and its attrition rate rose to 23.8 percent as compared to 21.9 percent in the previous quarter. Tata Consultancy Services (TCS) had a total headcount of 606,331 employees. The IT company added 14,136 employees, and its attrition rate climbed up from 17.4 percent in the last quarter of the previous fiscal to 19.7 percent in the June quarter.
Indian IT major Wipro has hired 15,446 employees in the first quarter of the 2022-23 financial year,. The attrition rate was 23.3 percent, slightly lower than the previous quarter’s 23.8 percent, but significantly higher than 15.5 percent during the corresponding quarter last year.
As of June 30, 2022, Wipro’s employee headcount was 258,574. This was an increase from 243,128 as of March 31, 2022. The company onboarded more than 10,000 freshers during the quarter, it said.
Thierry Delaporte, CEO of the software company, said last quarter that the company planned to hire 38,000 freshers this fiscal due to increased demand and attrition.
Wipro’s hiring in the reporting quarter has been higher as compared to its peers. HCL added 2,089 employees and its attrition rate rose to 23.8 percent as compared to 21.9 percent in the previous quarter, while Tata Consultancy Services (TCS) had a total headcount of 606,331 employees. The IT company added 14,136 employees, and its attrition rate climbed up from 17.4 percent in the last quarter of the previous fiscal to to 19.7 percent in the reporting quarter.
The Bengaluru-based IT company reported a 20.6 percent year-on-year (YoY) decline in consolidated net profit at Rs 2,563.6 crore for the first quarter ended Jun 30, 2022, on higher expenses. In the corresponding quarter last year, the company posted a net profit of Rs 3,242.6 crore. Shares of Wipro Ltd ended at Rs 412.20, up by Rs 6.60, or 1.63 percent on the BSE.
What is attrition rate and why is it important
Attrition is the term used to describe the decline in an organization’s workforce. Both voluntary and involuntary attrition is possible. Employees who quit an organisation voluntarily do so in search of better opportunities or because they are dissatisfied with their existing employer.
When a company asks its employees to leave because of downsizing or the termination of job positions, it is known as involuntary attrition. A greater attrition rate suggests that employees are leaving the company more frequently, whereas a lower attrition rate suggests that employees are staying with the company longer.
In India currently, major IT firms in India are fighting high attrition rates. Hence the companies have started to hire more freshers and are trying to retain their existing employees and are trying their best to retain existing employees to bring down the attrition rate.
Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout
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Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter
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