Employees of Tata Consultancy Services (TCS) are living in fear and uncertainty. Why? There have been reports of employees being forced to resign, with various unions claiming that the number of layoffs is far greater than what is being reported. Anonymous sources have reportedly shared with Moneycontrol that the number of layoffs could actually touch 30,000.
There are many who do not think this news is true because with such a drastic reduction in headcount the company will obviously face problems in functioning. The company, on its part, maintains that the job cuts have affected not more than two per cent of the workforce, that is, about 12,000 as was reported earlier.
Of those let go, many have served the company for over a decade. There are stories about some terminated employees being asked to pay a recovery sum of about Rs 6 lakhs or more for the period that they spent on the bench.
Employees are dreading receiving mails asking them to meet the HR. While some have been allowed a notice period of a week, many have been abruptly asked to leave immediately.
With many senior employees names also being part of the dreaded ‘fluidity list’ (that contains the names of those to be let go), the younger and newer employees are naturally anxious and wondering whether they would be next. It has reportedly been revealed that the terminations are happening arbitrarily and have nothing to do with the employees’ skills, talent or experience.
Source – https://www.hrkatha.com/news/why-are-tcs-employees-in-the-grip-of-uncertainty/