Tata’s TCS Will Not Retrench Employees, Looking To Hire Fired Talent During Global Layoffs!
Despite the global firing spree taking place among major companies in India and the world over, Indian behemoth Tata Consultancy Services (TCS) will not be considering any layoffs, much to the relief of its employees, and will announce hikes similar to previous years.
While several of the world’s IT big guns have been axing employees over the past few months, TCS, part of the Tata Group, is looking to onboard startup talent, which comes as good news for so many such who have recently been rendered jobless due to the worldwide layoffs in the job market.
TCS CHRO (Chief Human Resources Officer) – Milind Lakkad, said that TCS believes in grooming talent for longer careers once it recruits a new employee. Furthermore, TCS, which has over 6 lakh employees, will announce hikes similar to previous years for its workforce.
On hiring people who have lost their jobs, Lakkad said that with layoffs in different sectors, especially EdTech, it looks to hire people who have been impacted by the retrenchment. “It is a very large canvas, we are doing exciting work across different industries in different technologies. I think all of that requires some phenomenal talent to come in and participate. We are getting it obviously from startups, people who have actually done some good work in those companies and have short-term career challenges,” he said.
TCS is specifically looking to recruit talent in AI (Artificial Intelligence), User Experience Design, several cloud and product experience-linked profiles. It has recruited over 2 lakh people in the past year, including 1.19 lakh trainees and expects to recruit 40,000 trainees in FY 2024.
The CHRO further said that TCS is open to workers of Indian diaspora in the US who were laid off by tech majors and are forced to return to India due to visa conditions. It wants to bring the overall share of its American employees in the US down, from 70 to 50 per cent, and also wants to bring global opportunities to its employees in India.
