Chennai: India`s IT major Tata Consultancy Services (TCS) will lay off around 1,300 employees - 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. The company has a total headcount of around 1.3 lakh.
Lay-offs have started at the company`s development centers in Chennai, where over 200 employees have been asked to leave in the last fortnight, said TCS employees on condition of anonymity, as reported by The Economic Times.
A member of the TCS corporate communication team confirmed the development to the daily but did not put a number or place to it. "This is mostly employees who have been given a second chance to improve and haven`t. They will be sent over a period, in the next few months. This will constitute less than a percent of our global workforce. We had to let go of 500 people last year on performance issues," the corporate communication team member said.
This comes less than a week after the company`s CEO S Ramadorai said the company would review the variable pay component for its employees and also increase the working hours.
Asked about job cuts, he had said the company wasn`t planning to cut jobs immediately but might have to if the situation worsened.
Employee expenses make up at least 53-54 percent of the company`s total cost. Going by its analyst presentation for the third quarter ended December 2008, TCS had a total employee count of 1,30,343.
Source:
http://www.siliconindia.com/shownews/TCS_likely_to_lay_off_1300_staffers-nid-533
Lay-offs have started at the company`s development centers in Chennai, where over 200 employees have been asked to leave in the last fortnight, said TCS employees on condition of anonymity, as reported by The Economic Times.
A member of the TCS corporate communication team confirmed the development to the daily but did not put a number or place to it. "This is mostly employees who have been given a second chance to improve and haven`t. They will be sent over a period, in the next few months. This will constitute less than a percent of our global workforce. We had to let go of 500 people last year on performance issues," the corporate communication team member said.
This comes less than a week after the company`s CEO S Ramadorai said the company would review the variable pay component for its employees and also increase the working hours.
Asked about job cuts, he had said the company wasn`t planning to cut jobs immediately but might have to if the situation worsened.
Employee expenses make up at least 53-54 percent of the company`s total cost. Going by its analyst presentation for the third quarter ended December 2008, TCS had a total employee count of 1,30,343.
Source:
http://www.siliconindia.com/shownews/TCS_likely_to_lay_off_1300_staffers-nid-533
