Over 500 TCS employees quit so far FY08 on performance issues
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K.Karthik Raja
Feb 5, 2008, 12:40:59 AM2/5/08
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Over 500 TCS employees quit so far FY08 on performance issues
Tata Consultancy Services Ltd has so far asked a little over
500
employees to resign in 2007-08 (Apr-Mar) on grounds of poor
performance, the company spokesperson said today.
This is part of a regular assessment cycle, and around 550 people
were asked to quit in 2006-07 on similar grounds, therefore it is
business as usual for the company.
Employees asked to leave do not belong to a specific bracket,
experience level, or project.
The assessment applies across the board and is not specific to
juniors alone, he said.
This is a grading system that extends over two years, the
spokesperson said. In case an employee does not meet required
standards, he or she is put in a process improvement plan for six
months to one year, and if he or she is still unable to meet criteria,
they are asked to seek jobs elsewhere, he said.
In the face of expectations of weakening of IT business around the
globe, investors are reading meaning into the smallest of events,
analysts said.
Talk of deference of campus recruitment and some retrenchment in
several multinational and top Indian IT companies has been doing the
rounds for the past several days.
At 10:41AM, TCS shares were in line with the rest of the sector,
and were at 957.80 rupees on the National Stock Exchange, down 1.5%
from Monday.
Tata Consultancy Services Ltd has so far asked a little over
500
employees to resign in 2007-08 (Apr-Mar) on grounds of poor
performance, the company spokesperson said today.
This is part of a regular assessment cycle, and around 550 people
were asked to quit in 2006-07 on similar grounds, therefore it is
business as usual for the company.
Employees asked to leave do not belong to a specific bracket,
experience level, or project.
The assessment applies across the board and is not specific to
juniors alone, he said.
This is a grading system that extends over two years, the
spokesperson said. In case an employee does not meet required
standards, he or she is put in a process improvement plan for six
months to one year, and if he or she is still unable to meet criteria,
they are asked to seek jobs elsewhere, he said.
In the face of expectations of weakening of IT business around the
globe, investors are reading meaning into the smallest of events,
analysts said.
Talk of deference of campus recruitment and some retrenchment in
several multinational and top Indian IT companies has been doing the
rounds for the past several days.
At 10:41AM, TCS shares were in line with the rest of the sector,
and were at 957.80 rupees on the National Stock Exchange, down 1.5%
from Monday.
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