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