TCS Says 1000 Jobs Axed Due To Non Performance
TCS, India’s largest software services provider on Thursday announced that only 1,000 jobs have been axed in the country due to non-performance. The company clarified further that this is a part of normal working procedure and not due to any mass restructuring movement as being speculated.
The Tata-group company said that every year the company carries out performance reviews of its workers and this will result in “involuntary attrition”. According to the company, of the overall number of 2,574 only 1000 are from the country.
“This whole exercise this time has created a lot of noise. That is something for us to think about. If we look at India, it is just a 1,000 people. I don’t want to say that it is a restructuring; the business is in such a state that it is restructuring. We are in a normal process. This is a performance exercise. We do it every year, this year also we are doing. Some years we do it at a certain time, some others we do it at a different time. Involuntary attrition at TCS has been about 1 percent every year in that range and this year, it is no different,” TCS CEO N Chandrasekaran told reporters after announcing the company’s results.
Ajoy Mukherjee, the Global HR head of the company added that “the involuntary attritions have been based on performance review, which is equally important, and is part of every organization”.
“But we will have to think why all this noise,” Chandrasekaran said, and added that “there is no truth in any rumour about layoffs or restructuring. The company is in a high growth mode and is hiring significantly, which is always done keeping clients, shareholders and employees in mind”.
Chandrasekaran blamed the social media for spreading rumours.”It is something for us to think about as there is learning for us. We have to understand how this social media works when somebody puts up a message, that’s some action point we should take as we go forward.”
Chandrasekaran, who joined TCS as a trainee, said that the company invests a lot in training its staff. “I have built my career going through the same process as any other person would; I have been through the ranks. I can identify myself. We are very sensitive, we invest a lot in training and fundamentally, we look at things from an employee point of view,” said he.
The Madras high court on Tuesday restrained software major TCS from terminating an employee who has been given termination notice by the company.