IT giant TCS not laying off employees, could go on a hiring spree instead

Amidst layoffs world over among Global Tech Giants, TCS is charting an altogether different path. Infact it has no plans for laying off staff. TCS believes in grooming talent for longer careers, once an employee is hired by it.

Tata Consultancy Services will not be laying off employees

TCS Chief Human Resources Officer Milind Lakkad has given broad hints to the Industry and Media that company will be announcing hikes that will be similar to earlier years. However in the third quarter of FY23, TCS had reduced its employee count by 2,197 sequentially.

Lakkad told press, while answering to a specific question which was related to whether TCS will carry any layoffs or involuntary attrition.

"we don't do that (layoffs), we believe in grooming talent in the company…(there will be) no layoffs."

Lakkad also stated that Tech Companies had hired more than they wanted, which forced them to lay off employees.

However, when Lakkad was asked whether the reduction in the workforce during December 2022 was a one off incident, he did not specify if March 2023 Quarter will see an addition or continue with the decline in the Headcount.

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Hiring in Q4 may be muted

However in the Q3FY23 Press Briefing on 9^th January had indicated that in Q4 hiring may be muted or plus by a couple of thousands.

In the Press Conference , Lakkad has stated,

"We are aware that we made a significant investment in hiring fresh talents last year as well as the last two quarters of this year. And also, significant investment in the talent development of these people to make them productive now. And that investment is now paying off. But that does not indicate anything on the demand side."

Lakkad had further stated that TCS had hired 40,000 freshers and also stated that company may add a few thousand to its employee head count. Fuether he had revealed that company had not stopped lateral hiring as its related to business demand every quarter.

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