Amid H-1B Visa Hit, TCS Plans to Hire 15,000 Employees in Next Five Years in the US

Many companies have been impacted due to the H-1B visa hike hit. Now companies are strategizing many ways to deal with the issue as it is raising many problems. According to the reports, Tata Consultancy Services (TCS) has laid off many employees over the past few months. Now, due to the H-1B visa concern, TCS has shifted away from it and is planning to hire 15,000 more employees locally in the US in the next 3 to 5 years.

In a recent interview with the TOI, CEO K Krithivasan and CHRO Sudeep Kunnumal spoke about the hiring outlook. Where Sudeep Kunnumal said TCS plans to hire 15,000 employees locally in the US in the next 3 to 5 years.

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Does a fresh batch of around 1,000 H-1B approvals mean about 100 million USD in visa costs? We submitted in advance, but we don’t need to use all of those visas, Mr. Sudeep stated in the interview when asked about this issue. We made investments in developing strong local employer brands throughout the years. The majority of demands in the current quarter were met by hiring locally, which lessened reliance on H-1Bs. We are still on course to employ about 15,000 Americans in the United States over the course of the next three to five years, he states further.

The business’s overall contract value (TCV) for the December quarter was 9.3 billion USD, which was higher than the analysts’ predictions of 7-9 billion USD.

With an annualized revenue of 1.8 billion USD, TCS’s AI income increased at a consistent rate, outpacing low expansion across industries with a 17.3% QoQ increase. Customers’ ongoing investments in cloud, data, cyber, and enterprise transformations in preparation for AI were the main factor behind the demand, according to the report.