TCS Likely To Lay Off 1,300 Staffers
India’s biggest software exporter by sales, Tata Consultancy Services (TCS), will lay off less than a percent of its global workforce over the next few months, as these employees failed to meet performance standards, a company spokesperson said.
This roughly works out to 1,300. The company has a total employee count of around 1.3 lakh.
IT companies are adopting stringent appraisal, cost-trimming and productivity boosting measures as they grapple with the global economic slow down.
TCS employees said on condition of anonymity that lay-offs have started at the company’s development centres in Chennai, where over 200 employees have been asked to leave in the last fortnight.
Source: The Economic Times