Lakkad said that companies are forced to take such steps because they had hired more than they wanted while the TCS believes that once a staff member joins, it is the company’s responsibility to make them productive and derive value. In cases where we find a gap between the skill sets required and what an employee possesses, it focuses on training the employee by giving her more time, Lakkad added.
Plans to hire laid off employees
The country’s largest IT company exporter also has good news for startup employees who have lost jobs in the recent layoffs across the industry as TCS is looking to hire startup employees who have lost their jobs, particularly in the edtech sector. “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.
Lakkad also said that that the company, which employs over 6 lakh people, will be announcing hikes which will be similar to earlier years.
Lakkad’s comments are crucial at a time when Big tech giants and other IT companies across the world have announced layoffs due to a range of reasons. Technology companies shed more than 150,000 workers in 2022-23 amid a rapidly fading pandemic-led demand boom, according to tracking site Layoffs.fyi. More layoffs are expected as growth in the world’s biggest economies slows.
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