Contrary to the latest trend in the IT industry, global IT firm Tata Consultancy Services (TCS) has denied any plans of laying off employees and instead plans to create more jobs in future. TCS is a major employer in the Indian IT sector and this will give some relief to the freshers seeking employment.
The company launched a BPO centre in Patna on 11th May and has ruled out any plan to downscale its workforce. The company plans to hire more employees in future as part of the Digital India drive of the government.
“No, certainly not. There are no plans of laying-off employees like many other big firms. We are here to create jobs, not to downsize” Rajesh Gopinath, MD and CEO of TCS told IANS during the event.
This comes at a time when IT sector is facing its worst time in a decade. This is welcome news for the professionals in the IT sector after recent developments in the IT sector. WIPRO recently fired 600 employees as part of its annual performance appraisal; Cognizant has offered VRS close to 6000 employees including its directors/VPs, Tech Mahindra may also lay off 1500 employees for poor performance according to a report and Infosys is also planning to downsize its workforce.
"The company is looking forward to expanding and spreading its business in order to connect with more and more people." said TCS spokesperson Pradipta Bagchi citing IT sector has a bright sector with Digital India on the right path.
TCS is India’s largest IT firm in terms of market capital and holds up the majority of placement drive across the country. It has a presence in 45 countries employing approx 4 lakh expert professionals. The company has a market value of Rs 4.62 lakh crore and generated a revenue of Rs 92,693 crore in the financial year ended March 2017.
BW Reporters
The author is a correspondent with BW Businessworld with keen interest in HR and employee welfare.
