TCS likely to lay off 1,300 staffers
By siliconindia   |   Monday, 09 March 2009, 16:04 IST
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TCS likely to lay off 1,300 staffers
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.

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