Wednesday, July 22, 2009

Why 5000 employees left TCS?

Latest updates on TCS

The headcount of India's largest software company shrank despite a gross addition of staff. According to Hindustan Times, in the latest quarter TCS added a total of 2,828 employees with the total headcount of 1,43,761 at the start of the quarter. According to a site, if the new hires are taken into consideration, the total employees strength should have reached 1,46,589 by the end of June. However, the firm's headcount was 1,41,642 as of June 30, 2009, showing a net reduction of 4,947 employees.

A company spokesperson confirmed the staff decline but added that TCS's attrition levels were in line with the industry average. "Our attrition level has remained similar to what it was in the previous quarter. However, since we have controlled gross additions, the overall headcount has come down," said a TCS spokesperson.

Regarding the 24885 fresh campus recruitments, TCS confirmed they would honor their promises made to the candidates and would start to give joining from July-September. Lateral hiring would however slow down, but continue however.

But the rumors doing the round whether the employees left on their own or were asked to leave, which I believe TCS would never do because they really value the interests of all their employees. Maybe they were low performers? Or as the TCS spokesperson pointed out, the attrition rate has stayed the same, but only because they have controlled gross additions, the headcount has come down.

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“Don't part with your illusions. When they are gone you may still exist, but you have ceased to live.” ~ Mark Twain