TCS Rules Out Layoffs; Employees to Get Pay Hike Instead

New Delhi: When major companies like Google, Meta, Twitter, and Amazon are sacking employees. India’s techno-giant Tata Consultancy Services (TCS) declared that it will not lay off any employees.

“We believe in grooming talent in the company, there will be no layoffs. Once a staff member joins, it is our responsibility to make them productive, and derive value,” said the chief Human Resources officer of TCS, Milind Lakkad to PTI, as reported by India Today.

In India TCS has over 600,000 employees. This recent statement of Lakkad has come as a respite for them.

Interestingly, he further revealed that TCS staff members will, in fact, receive salary hikes similar to the ones in previous years. Additionally, TCS will be hiring more employees, especially the impacted employees from startups.

TCS has also employed more professionals in the past year. Out of its more than 6 lakh employees, more than 2 lakh (including 1.1 lakh trainees) were hired in the past year.