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TCS to freeze lateral hiring, reduce pay hike
By siliconindia
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Tuesday, 20 January 2009, 15:47 IST |
10 Comments
Mumbai: Feeling the heat of economic meltdown, India's top IT exporter Tata Consultancy Service (TCS) is taking a break in lateral hiring and the company's salary hike next year may not go beyond single digit in percentage range, reported Business Standard. However, the company would honor the commitment of recruiting 24,800 people during the financial year 2009-10.
"We have almost frozen our lateral hiring. We have been very controlled about the numbers that we take from here. The focus is on trainees as from cost management perspective this will balance out," said Ajoy Mukherjee, Vice-President and Head-global human resources, TCS.
TCS has plans to hire 30,000-35,000 people for FY09, of which 30,430 are already on board. Of the total number, 24,800 are from campuses. Mukherjee mentioned that the campus hiring is done at least a year advance and we were not expecting the situation to be this bad.
According to an analyst, the current business environment is making the company to take such measures, but this will help it manage cost as unlike its peers TCS did hire a lot of experienced hands.
The company is however not going to completely avoid experienced people. Mukherjee pointed out that the hiring of experienced people will be based more on domain expertise and business needs. TCS is also looking to shift focus on offshore than onsite. About 20 percent of the company's workforce is onsite, of which almost one percent has already returned offshore.
