TCS has ruled out rumours of layoffs, instead announces plans to create more jobs

Bucking the trend, Global software major Tata Consultancy Services (TCS) has ruled out laying-off employees in the near future and instead plans to create more jobs. “No, certainly no,” Rajesh Gopinathan, CEO and MD of TCS, told IANS here on Thursday when asked if there were any plans of laying-off employees or downsize as some other big players in India’s IT sector have said they would do. “We are here to create jobs, not to downsize,” he asserted after TCS launched a BPO centre here to create new opportunities as part of the government’s Digital India push. At a time when it has been reported that Indian software companies like Wipro, Infosys and Cognizant have decided to downsize, Gopinathan’s revealation that TCS is not going to follow suit is seen as a welcome development. Later, TCS spokesperson Pradipta Bagchi said the IT sector has a bright future in the country with the Digital India initiative on the right track. “We are looking forward to expand and spread our business and connect with more and more people.” TCS operates in 45 countries and has over 387,000 of the world’s best trained consultants. The company generated consolidated revenue of $17.6 billion in the fiscal ended March 31, 2017.