TCS, India’s largest software exporter, has said that it will not retrench any of its nearly 4.5 lakh employees, but has decided not to give any salary hikes this year, according to a report.
The Tata group company has commented on new hires that it will keep 40,000 people who have been given offers on board, unlike some other blue-chip companies that are reportedly having a relook.
“Every offer that we have made will be honoured. We do not see any retrenchments,” TCS MD and CEO Rajesh Gopinathan told reporters over a call.
Its head of human resources Milind Lakkad elaborated that it has given out 40,000 offers to freshers and all of them will be onboarded as the year proceeds ahead.
However, in what may come as a dampener to the employees, it has decided to put salary hikes on hold, Lakkad said.
For the March quarter, the company witnessed a healthy profit jump but hinted at very difficult time in the first two quarters of the current fiscal due to COVID-19 crisis.
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