TCS Announces 100% Bonus for Employees, Says No Truth in Layoffs

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New Delhi: TCS chief N. Chandrasekaran has rubbished all rumors about layoffs in the organization adding that TCS is in a high growth mode and they are hiring new employees significantly.

He also announced 100 percent bonus to the employees.

At the press conference, Chandrasekaran said that TCS has seen a gross employee addition of 16,561 in the third quarter taking its employee count to 3,18,625.

The HR head of the IT company, Ajoy Mukherjee said that he expects to exceed this fiscal year’s hiring target. He said that TCS has so far in 2014-15 hired over 52,000 employees.

 TCS earlier this week clarified said it 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”.

India’s biggest outsourcer had been in the news earlier for allegedly laying off a large number of employees. TCS maintained that only “non-performers” have been asked to leave and the lay-offs at TCS are no more in number than in the last few years.

India’s biggest IT outsourcer TCS reported 1.6 per cent sequential growth in its net profit to Rs 5,328 crore for the quarter ended December 31, 2014, according to Indian Generally Accepted Accounting Principles (IGAAP) standards. This was in line with the Street estimates. TCS revenue in the quarter came in at Rs 24,501 crore, up 2.87 per cent sequentially.

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