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TCS Says No Large Scale Exits, Pegs Involuntary Attrition at 1%

Tata Consultancy Services (TCS) on Tuesday 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".
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TCS Says No Large Scale Exits, Pegs Involuntary Attrition at 1%

Tata Consultancy Services (TCS) on Tuesday 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 has been in the news for the past several days for allegedly laying off a large number of employees. TCS has 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.

"The involuntary attrition for the first nine months of this year has been 2,574 employees which represents 0.8 per cent of the total employee strength. The corresponding numbers for FY14 and FY13 were 2,203 and 2,132 respectively.  The total involuntary attrition for the current fiscal year will be around 1 per cent," the company said in a statement today. (Read Full Statement)



Forum for I.T. Employees, an organisation of former IT employees, has claimed that the company is firing 25,000 employees.

TCS said it has reached out to its employees and clarified about "entirely false" and "baseless claims" on various social media forums about alleged large scale layoffs by the company. TCS employed 3.10 lakh people as of September 30, 2014.

"We have consistently nurtured our in house talent and have also been the largest job creators in the country.  Our leadership status continues to present many growth opportunities for all our employees, and it is reflected in the fact that we have a consistently had the highest employee retention levels in the industry," TCS said.

TCS will report its December quarter earnings on Thursday, when the management is likely to throw more light on the issue.



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