500 TCS employees asked to part company
05 Feb 2008
Mumbai: TCS has announced that 500 of its employees have been asked to leave, following poor performance reviews.
In a statement, TCS spokesperson Pradipta Bagchi said, "Those who cannot meet the performance requirements of our company were asked to look for another job commensurate with their abilities."
Last month the company had passed on the shortfall in meeting EVA targets to its employees from the variable component of the salary packages. (See: TCS employees to make good Rs83 crore shortfall in revenue target)
The move highlights the dwindling quality of talent in the IT sector, a major concern for most employers.
TCS had appointed 4,037 employees in the quarter ended December 2007, notching up a total headcount to 108,229. A year ago, the company had a headcount of 83,500.