Hi Guys.. any views on the recent TCS lay off... is it a media hype up of a regular practice or is TCS and other companies heading towards major crisis?
Your Views??
We got this in an internal mail from our Global HR:-Recent Media Reports: Message from Head, Global HR
Dear TCSers,
This is with reference to recent reports in the media about TCS asking 500 employees to resign based on poor performance. I thought it important to put these reports in the proper context, in order to address any doubts or confusion that may have arisen as a result of these eye-ball grabbing headlines in the media.
As you can see around you, its business as usual with customers continuing to visit us and projects being executed. Our robust business model continues to drive growth across markets and verticals and we remain confident of increasing our market share.
In the first 9 months of 2007-08, TCS has hired a gross of over 28,000 professionals and is well on its way to meet its annual recruitment target. We have also made over 22,000 campus offers for trainees to join us next year.
In a transparent manner, we have also communicated to all our stakeholders that we are cautiously optimistic about our business prospects in these challenging times and this stand is being reiterated by our customers and other corporations.
With reference to the disengagement of around 500 employees that represents less than 0.5% of our total employee base, it is important to re-iterate that TCS has always propagated a performance-based culture across the organisation which you are all aware of.
In this context, it is important for us all to note that this is not an isolated initiative undertaken this year and neither have these disengagements happened in a particular week or month. Appraising all employees and disengaging with those who do not meet the mark on a consistent basis is an ongoing process that occurs every year and reinforces our performance-driven culture. The recommendations and appraisals are made from the ground up in the normal course of business.
It is also important to reiterate that the process of disengagement with these employees is not an indication of their redundancy nor a sign of any business impact on the companys operations.
As the industry leader, we continue to drive this sector and I look forward to your continued support and involvement. If you have any queries or questions, please do not hesitate to get in touch with the senior members of the HR team at your location who will be able to clarify any doubts you may have.
Wish you all the best,
Regards,
Ajoy Mukherjee
Head, Global HR
