Reports: Is TCS Offering 2 Years’ Salary to Laid-Off Employees?

Almost every single mainstream global IT and outsourcing company in the software industry is looking at employee restructuring in view of the changing demands and challenges in the industry. 

In tune with this, several companies have already started to fire employees at a large capacity. And now it is being established that Indian IT giant Tata Consultancy Services TCS is looking at firing a chunk of its workforce as a part of its restructuring. 

The company had already decided to fire as many as 12,000 employees for the next year. And now the latest developments are suggesting that there could be more additions to this list.

As per Moneycontrol report, TCS is considering the idea of offering two years pay as severance package for senior employees who had been with the company for a long period of time.

Based on the tenure that they had served at TCS, the company is likely to offer a severance pay in the range of six months to 2 years salary for its senior workers. This is a token of reward and loyalty to the experienced employees who no longer possess the skillset as the company’s restructuring model. 

With usually reliable TCS itself, looking at massive layoffs, other smaller companies could follow same suit as things are starting to look bleak for the IT sector domestically.