TCS Announces Employees Salary Hikes Amid Global Tech Layoffs
On the one hand, where giant tech companies are laying off globally, on the other hand TCS is not only hiring but also increasing its employees’ salaries. As per chief human resources officer Milind Lakkad, Tata Consultancy Services (TCS), the largest IT services provider in India, would soon announce compensation increases for its staff that will be comparable to those from prior years. This occurs at a time when tech corporations all across the world are using layoffs as a cost-cutting measure. Lakkad added that TCS is not planning any layoffs because it thinks that once an individual is hired, talent should be developed for longer careers. According to a report by news agency PTI citing TCS’ CHRO, the top exporter of information technology services in the nation is also trying to acquire startup workers who have lost their jobs. “We don’t do that (layoffs), we believe in grooming talent in the company… (there will be) no layoffs,” Lakkad said, adding that several compani...