| Topic : Corporate Layoffs |
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1 comments
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last activity : 07 06 2010 20:18:04 +0000
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The news is not so good for the TCS employees.
As part of cost cutting measures to tackle global economic downturn, IT major TCS on Thursday said job cuts are possible and also ruled out salary hikes next year.
The country’s largest software company TCS has reportedly put its 1,000 employees under performance scanner this year like Infosys.
Earlier in 2008, Tata Consultancy Services Ltd (TCS) has asked about 500 of its
employees to look for another job (i.e. resign voluntarily) as they did
not meet the performance requirements of the company.
TCS Managing Director S Ramadorai said "there would be no hike in salaries in the forthcoming year" and added that "job cuts are possible if the situation worsens".
Adding further that TCS has frozen "lateral intake" he said the company is reviewing variable pay component on employee salaries.
The variable pay component of TCS employees differs between 22 per cent and 35 per cent of his/her gross salary, depending on employee rank, he said.
Company sees slowdown in demand bottoming out in the March quarter and expects a recovery in the June quarter.
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The news is not so good for the TCS employees. As part of cost cutting measures to tackle global economic downturn, IT major TCS on Thursday said job cuts are possible and also ruled out salary hikes next year. The country’s largest software... |
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