Tata Consultancy Services Ltd (TCS) has come out with a clarifying statement over large scale workforce layoff rumors saying that neither has it planned nor is planning any large scale exits of any section of the organisation.
“There have been discussions on various social media forums about alleged large scale layoffs at TCS. During the course of the last few weeks we have reached out to our employees and clarified that these are entirely false and baseless claims,” said a company statement.
There have been rumors trending on various social media that TCS was planning to give pink slips to a large number of employees.
The statement added, “However given the persistence of these rumors in the social media forums, we would like to place on record that TCS has not initiated, and is not planning to initiate, any large scale exits of any section of its staff in any part of the organisation.”
TCS said that appraisals and associated processes are an integral part of the company and there has not been any exceptional action in the last few months.
“Performance appraisals and associated processes are an integral part of the company’s operations. Given the circumstances, as an exception we are sharing specific data on the actual quantum of involuntary separations over the last 3 years, which establishes that there has not been any exceptional action in the last few months”, added the statement.
“The involuntary attrition for the first nine months of this year has been 2574 employees which represents 0.8% of the total employee strength. The corresponding numbers for FY14 and FY13 were 2203 and 2132 respectively. The total involuntary attrition for the current fiscal year will be around 1%”, clarified the statement.