- TCS, India’s largest software company on Thursday, said it would not shut down any of its nearly 4.5 lakh employees, but this year it has decided not to offer any salary increases.
TCS, India’s largest software company on Thursday, said it would not shut down any of its nearly 4.5 lakh employees, but this year it has decided not to offer any salary increases. The Tata group business said it would fulfill each of its recruit promises by taking all the 40,000 people on board deals, unlike TCS Wiome other blue-chip firms that would have a relook.
The company posted a healthy profit leap for the March quarter but in the first two quarters of the current fiscal year, due to the COVID-19 crisis, including a sales contraction, it pointed at a very difficult time. “We will honor any bid we have made. We don’t see any retrenchments,” TCS MD and CEO Rajesh Gopinathan told reporters on a call.
His head of human resources, Milind Lakkad, clarified that he has given 40,000 offers to freshers and that they will all be on board as the year goes on.
Colleges and universities usually will be on until June, and then the students will start attending, he said.
However, it has agreed to put salary hikes on hold, Lakkad said, in what may come as a dampener to the employees. “This time, we agreed not to offer any salary increases,” he said.
Gopinathan said the company has total attrition of 12.1 percent, which is one of the highest in the industry and reiterated commitment to caring for the employees and appreciated their loyalty to the company in its hour of crisis.
Chief Operating Officer of the company N Ganapathy Subramaniam said 3.55 lakh workers are currently employed in India, and 90 percent of them are now linked to safe workplaces to meet the needs of clients.
He also added that the organization found in the initial trends that efficiency in the latest model of its associates working from home has improved.
The COO said the organization has many lessons on different topics, like why all the associates work from one office as well as others, which will also be taken into consideration in the future.
Coronavirus pandemic has affected the corporate and IT sector to some extent where the payments are delayed due to less business of clients. We hope these businesses resume soon and things get back to normal.
