Tata Consultancy Services (TCS)
has terminated around 1500 of its employees. The fired employees have decided
to start an online campaign against the company's decision. A mass petition is
being planned to be handed over to the PM Narendra Modi. Led by the Federation
of IT Employees of Chennai, the fired employees are gearing up for a
conspicuous protest.
Sources say that the firings have
been brought about in order to bring in the reforms and cost-cutting. The
timing of the decision is somewhat strange as the company has recorded a 17%
growth in the first half of this fiscal year. The company has a global work
force of over 300000 has fired 470 in Bengaluru, 700 in Hyderabad, 480 in Chennai,
70 in Pune, and 20 in Kochi.
In the meanwhile, TCS has
announced that it will hire around 55000 employees in the current fiscal year.
TCS has an attrition rate of 12% that includes involuntary attrition.
The rumors are quite rife on
various social platforms about the company planning to sack about 25000
'non-performing' employees by the end of this fiscal year itself. While TCS is
not willing to accept the terminations as something extra ordinary.
Industry experts are seeing this
incident as something that TCS is doing to bring in new talent which will not
just bring new ideas with them, but the act will bring the expenses down
considerably.
Coding is the basic skill that
employees need in the IT companies, but that skill needs to be updated with
time as new things keep coming all the time. And those who are not fast enough
to catch up with these novelties are deemed as a financial liability to the
company.
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