Tata Consultancy Services (TCS) is ‘not considering any layoffs,’ the multinational IT firm’s Chief Human Resources Officer (CHRO) has said, with his statement coming at a time when IT companies, including tech giants such as Google, Meta and Twitter, among others, have laid off employees over reasons such as cost-cutting, poor performance etc.
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“We believe in grooming talent in the company…there will be no layoffs. Once a staff member joins, it is our responsibility to make them productive, and derive value,” said Milind Lakkad, the Mumbai-headquartered organisation’s CHRO, in an interview with PTI.
Lakkad added that firms are forced to terminate employees as these hire ‘more people than required.’ TCS, on the other hand, is ‘cautious’ in its approach, he remarked.
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He further announced that TCS staff members will, in fact, receive salary hikes similar to the ones in the previous years.
On people losing jobs with startups, Lakkad said Tata Consultancy Services will ‘like to hire such impacted workers,’ specifically those with talent in user experience design, artificial intelligence (AI), cloud aspects, and product experience.
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“It is a very large canvas, we are doing exciting work across different industries in different technologies. I think all of that requires some phenomenal talent to come in and participate. We are getting it obviously from startups, people who have actually done some good work in those companies and have short-term career challenges,” said the lead HR.
TCS has a total workforce of more than 6 lakh employees. Of these, according to Lakkad, more than 2 lakh (including 1.1 lakh trainees) were inducted over the past year.