Tata Consultancy Services (TCS) has decided to layoff around 1,300 employees or 1 per cent of its global workforce this year. About 100 employees have already been fired in Chennai alone in the last two weeks.
This comes in the wake of recent announcements by the company’s MD S Ramadorai 10 days back that variable pay of employees is being reviewed this year, to counter the tough economic situations across the globe.
The IT major has also increased working hours to 45 hours per week from 40 hours effective April 1. The TCS sources said in the last two weeks alone the company has sacked about 100 people after they were found wanting in their performance appraisal.
Read More
1. Layoff in IT industry
2. HP cutting 24,600 jobs
3. Poll – Recent Layoff in IT
Authors bio is coming up shortly.
