TCS says No Major Layoffs

Finally the silence is broken. TCS has released a statement regarding 'massive layoffs' as reported widely. It is interesting the statement comes after a widespread protest by sacked employees who ventilated their ire on Social Media and  started a Facebook Page - ">We are against TCS Layoffs, that currently has 15,000 plus likes and numerous posts damning TCS' action. However, on Sunday, a unknown TCS employee posted her termination process and the way it was handled went almost viral.  ( Read: For 30,000 TCS Employees. Here's How the Party Winds Up).

It is in this back drop this carefully worded statement comes in and it reads:

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.  

However given the persistence of these rumours in the social media, 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.  

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. .

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%.

TCS is the leader in the Indian IT industry and has always built its organization on strong employee values.  We have consistently nurtured our in house talent and have also been the largest job creators in the country.  Our leadership status continues to present many growth opportunities for all our employees, and it is reflected in the fact that we have consistently had the highest employee retention levels in the industry.

But yet again, the protesting employees dismissed the statement as a formality and many of the comments on Social Media damned the company's HR policies.

Are a you a TCS employee?  Did you get the pink slip? What is the truth?  Have your say and lets hear your comments!