TCS to undergo “No Layoffs”, Salary Hikes are Approaching
The Chief Human Resources Officer of TCS, Milind Lakkad stated in an interview that TCS would not go through any layoffs. Instead, they would hire the impacted employees from the startups o engage them in diverse projects.
Tata Consultancy Services (TCS), the country’s largest information technology service provider has stated that they are looking for employees who have lost their jobs in the startups. It was stated by the Chief Human Resources Officer Milind Lakkad in an interview with valid sources.
Various tech sectors have gone through massive layoffs. At the same time, TCS has announced that they are not considering any layoffs, as of now. They believe in the idea of enhancing talents for longer careers once they hire an employee.
They have even declared to hire startup employees, who have lost jobs because of the massive tech layoffs. Lakkad has stated in an interview that TCS does not expect any layoffs, the IT industry believes in grooming its employees.
TCS says “no layoffs”, and offers salary hikes to employees:
He has even cited that many companies had to take a drastic step and let go of the numbers of employees because they have overhired staff, whereas, on the other hand, TCS has been cautious of its numbers and the company once hires an employee, it takes the responsibility to make them productive and derive the value.
In case, TCS finds a gap between the skills possessed by an employee and the skill set required for a project, it focuses on training the employee by giving him/her more time.
TCS has been the largest IT service exporter that has employed 6 lakh employees. Moreover, the company will provide major hikes to all its employees. They will follow the same trend in appraisal and hikes similar to the previous years.
Lakkad has even brought to notice that TCS would continue to hire employees impacted by layoffs.
Currently, TCS has been conducting diverse world across different industries in different technologies, and the company is seeking for phenomenal talent to come in and participate in various projects.
Lakkad was further questioned about the decline of 2000 staffers in the total workforce in December, he did not mention if march will see the same edition or continue with the decline of the number of employees.
Lakkad has mentioned that TCS is present, leveraging its past investments now, and the company does not look forward to the addition of significant employees from the employer’s standpoint. The focus undertaken by the company will lead to an increase in the overall utilization numbers before the numbers decline to 40,000 trainees. TCS expects to hire more employees in FY24.
Lakkad has stated that at least 70 percent of the employees working for the TCS in the U.S.A. are Americans. The company will decline the numbers to 50 percent because the company wants to offer Indians global opportunities.
Recently, Wipro laid off hundreds of fresh employees for their poor performance. The company has mentioned to different sources that they have let go of 452 freshers after they performed poorly in their assessments after they were provided with repeated training.
Infosys has laid off 600 employees who failed the company’s internal assessment test.
According to the most recent news reports, Yahoo has decided to give pink slips to about 20% of the tech division staff.
After Disney CEO Bob Iger announced undergoing a restructuring process and laying off approximately 7000 employees due to the decline in subscribers and revenue, Yahoo announced layoffs.
About half of the company’s ad tech employees, or 1,000 employees, will be impacted by the extensive restructuring process this week. After Yahoo’s statements were made public, the news was obtained from reliable sources.
Andy Jassy, the CEO of Amazon, announced that the company would undergo a significant restructuring that would result in the elimination of 18000 jobs globally. One percent of the workforce would be affected by job losses. The layoffs have harmed thousands of Indian workers.
Recently, Tata Consultancy Services (TCS) acquired its biggest deal in the UK with an insurance service provider named Phoenix Group, which is a London-based company. The company has agreed to sign a contract with TCS worth more than 723v million USD to transform the product offering made by the company to digital mode. The deal has been a success for TCS. At the same time, other businesses like Telefonica Germany, a telecommunications provider, have selected to partner with TCS to transform its end-to-end service assurance applications.
TCS will leverage methodologies, including Agile, DevOps, and Continuous Integration.
The collaboration with diverse firms ensures that TCS will not fall short in generating its revenues in the near future, keeping the employees safe from layoffs.
edited and proofread by nikta sharma