‘We believe in grooming talent’: TCS’ top official says not planning layoffs, hiring those impacted from startups

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Amid layoffs across various sectors, Tata Consultancy Services (TCS) has said it is not considering any layoffs as it believes in grooming talent for a long career after hiring an employee.

Its chief human resources officer Milind Lakkar told the news agency that the country’s largest information technology services exporter is also looking to hire startup employees who have lost their jobs. PTI in an interview.

Lakkar said, “We don’t do that (layoffs), we believe in honing talent in the company (there will be no layoffs).

He said that many companies are forced to take such a step because they have hired more than they want. While TCS, which he cited as “cautious”, believes that once a staff member joins, it is the responsibility of the company to make them productive and derive value.

Lakkar said that in cases where it finds a gap between the required skill set and the one possessed by an employee, it focuses on training by giving more time to the employee.

He said the company, which employs over 6 lakh people, would announce a hike which would be similar to that of earlier years.

Lakkar told PTI That TCS would like to hire the employees affected by the retrenchment.

He said that TCS is doing exciting work in various technologies across various industries and this requires some phenomenal talent to come and participate.

To a question whether the drop in total headcount by over 2,000 employees in the December quarter was a one-off, Lakkad did not specify whether there would be an increase in the March quarter or a continuation with the decline.

Lakkad said that over the next few quarters, the company does not see “significant additions” from a net employees perspective, pointing out that it is now reaping the benefits of its past investments.

Lakkad said that this will increase the overall utilization number before it starts going down as it expects to hire over 40,000 trainees in FY24.

Currently, 70 per cent of its US employees are American, Lakkad said, adding that it is looking to reduce the number to 50 per cent as it seeks to provide global opportunities to its employees in India.

Recently, Wipro fired hundreds of new hires due to poor performance. The company told Business Today that it had to let go of 452 freshers because of repeated poor performance in assessments even after training.

Infosys, too, has reportedly let go of over 600 employees who failed the company’s internal assessment tests.

(With inputs from PTI)

Read also: Wipro to roll out 87% variable pay to employees in Q3 FY2023

Read also: Infosys has fired around 600 fresher employees after they failed internal exams.

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