TCS, on Friday, said it was undertaking a performance-based workforce restructuring, but it was not a ‘retrenchment’ exercise and the company might exceed its target of hiring 55,000 new professionals this fiscal.
Without giving any specific numbers for employees to be affected by this ‘continuous’ restructuring process, the HR head of the company also said that “it is not that everyone being relieved is a bad performer.”
“It is not a special process. It is a continuous process,” TCS EVP and Head (Global) HR Ajoyendra Mukherjee told reporters here.
His comments follow reports about TCS undertaking a significant performance-related restructuring of its workforce, which may also lead to some employees being asked to leave the company.
Downplaying it as a ‘regular exercise’, Mr. Mukherjee also said the company was on track to meet its gross hiring target of 55,000 employees in the current fiscal ending March 31, 2015, and may even exceed it. He said that the company has a campus offer target of 35,000 people and it has already made over 31,000 offers and more than 3000 offers would be made during the fiscal.
“This (restructuring) is nothing new what we are doing. This is something that goes on throughout the year. We are a performance-oriented organisation, we continue to look at the performance of each and every individual...we do have appraisal process, we measure how people are doing,” he said.
TCS shares closed down 1.48 per cent at Rs. 2455.70 on the BSE.
