IT giant TCS not looking at layoffs, likely to announce hikes for employees soon

Amidst layoffs Indian IT giant, Tata Consultancy Services (TCS) is not considering the same. Instead, TCS believes in grooming talent for longer careers once it hires an employee. While shunning the layoff plan, TCS chief Human Resources officer Milind Lakkad on Sunday hinted that the company will be announcing hikes that will be similar to earlier years. In the third quarter of FY23, this Tata Group-backed company reduced its workforce by 2,197 employees sequentially.

TCS believes that once a staff member joins, it is the company's responsibility to make them productive and derive value, he added. If there is a gap between the skill sets required and what an employee possesses, the company focuses on training the employee, Lakkad added. TCS, which employs over 6 lakh people, will be announcing hikes which will be similar to earlier years, Lakkad said. With a slew of startups laying off people, especially in sectors like education technology, Lakkad said TCS will be looking to hire such impacted workers.