The Indian Wire » Business » Amid lockdown, TCS not to lay off employees, freezes salary hikes

Amid lockdown, TCS not to lay off employees, freezes salary hikes


India’s largest software industry TCS goes with a shocking announcement on Thursday, It states that it would shut down any of its nearly4.5 lakh employs.

TCS decides not to give any salary hikes this year. The Tata group business said it would fulfill each of its recruit promises by taking all the 40,000 people on board deals, unlike TCS Wiome other blue-chip firms that would have a relook.

TCS got up with a healthy profit mark for the March quarter. It hinted at a very difficult time in the first two-quarters of the current fiscal due to the COVID-19 crisis, including a revenue contraction.

TCS MD and CEO Rajesh Gopinathan reported over a call that “Every offer that we have made will be honored. We do not see any retrenchments.”

TCS head of resources Milind Lakkad elaborated on some topics. TCS given out 40,000 offers to freshers and all of them will be onboarded This year.

Colleges and universities usually will be on until June, and then the students will start attending, he said.

Gopinathan said the company has total attrition of 12.1 percent. Which is one of the highest in the industry and reiterated commitment. TCS to caring for the employees and appreciated their loyalty to the company in its hour of crisis.

Chief Operating Officer of the company N Ganapathy Subramaniam said, India currently employed 3.55lakh employees.

He also added that the organization found in the initial trends that efficiency in the latest model of its associates working from home has improved.

The COO said the organization has many lessons on different topics. Like why all the associates work from one office as well as others, which will also be taken into consideration in the future.

TCS hope IT businesses resume soon and things get back to normal.

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