Tata Consulting Services (TCS) has no intention of laying off employees. A senior company official says that at TCS, we prepare talent for a long career. TCS human resources director Milind Lakkad said the company will hire employees from start-ups who have lost their jobs. His statement comes at a time when large information technology (IT) companies around the world are showing employees the way out.
we don’t believe in layoffs
Lakkar said, we don’t believe in reduction. We promote talent. He said many companies have to take that step because they hired more people than they wanted. And in this case, when an employee joins the ‘vigilant’ TCS, it is the responsibility of the company to make it ‘productive’. Lakkar said there are times when the skill set with the employee is less than what we need. In such a situation, we give the employee time and train him. TCS has more than six lakh employees. Lakkar said that this time too the company will give a salary increase to the employees from the previous couple of years.
More than 1 lakh people evacuated so far
More than 17,400 employees in the technology industry have lost their jobs globally in the month of February so far. In India too many employees have been laid off. So far in 2023, around 340 companies around the world have laid off more than 1.10 lakh employees. Major companies starting layoffs this month include Yahoo, Byju’s, GoDaddy, GitHub, eBay, Auto Desk, OLX Group and others. According to the Layoff.FYI website, about 1 lakh people lost their jobs worldwide in the month of January. In January alone, on average, more than 3,300 tech workers were laid off by more than 288 companies around the world every day. More job cuts are likely to follow in the coming days amid recession fears. After laying off 11,000 employees in November last year, Meta (formerly Facebook) plans to further reduce its workforce.
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