TCS Says No To Layoffs

Tata Consultancy Services (TCS) chief human resources officer, Milind Lakkad, confirmed that the company is looking at layoffs. In addition, he stated that the company is prepared to hire new employees who were laid off. Lakkad told PTI, "We don't do layoffs, we believe in grooming talent in the company, and there will be no layoffs." He also hinted at hikes similar to those seen last year.In terms of startups laying off employees, Lakkad stated that TCS will be trying to hire such impacted employees.

He said that TCS is engaging in exciting work in a variety of sectors and technologies and that this work calls for some extraordinary talent to join it. They are getting it from start-ups, from employees who have done some excellent work in those companies but are currently facing difficulties in their careers.

Lakkad told PTI that "We are aware that we made a considerable investment in hiring new employees both last year and in the past two quarters of this year. Furthermore, significant investment in talent development of these employees is required to make them productive now.And that investment is now paying off. Nevertheless, this says nothing about demand."

So far, Amazon has announced 18,000 layoffs, and Google says it will sack 12,000 employees.