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No salary hike next year, job cuts possible: TCS

As part of cost cutting measures to tackle global economic downturn, IT major TCS on Thursday said job cuts are possible and also ruled out salary hikes next year. TCS managing director S Ramadorai said “there would be no hike in salaries in the forthcoming year” and added that “job cuts are possible if the situation worsens”. Adding further that TCS has frozen “lateral intake” he said the company is reviewing variable pay component on employee salaries. The variable pay component of TCS employees differs between 22 per cent and 35 per cent of his/her gross salary, depending on employee rank, he said. Variable pay represents eight percent of the total revenue of TCS, whose headcount is 1.3 lakh. Ramadorai said the company is also looking into all aspects of cost reduction, including capex and infrastructure.

February 27, 2009 Posted by | news | , , , , | Leave a comment

British telecom to cut 10000 jobs

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British telecom which has a large off shore presence in India,announced that it had plans of cutting jobs for 10000 employees by march 2009 but said India’s operations would not see any retrenchment.

November 14, 2008 Posted by | Uncategorized | , , , , , , , | Leave a comment