Report: India's Tata Consultancy to lay off 1,300 staffers
India's largest software company, Tata Consultancy Services, will lay off 1,300 of its employees over the next few months, the Times of India newspaper reported Sunday.
Those made redundant will be staff who fail to meet performance standards, it said, dpa reported.
The redundancies represent around 1 per cent of its 130,000-strong global workforce, the Times of India daily reported, citing company officials.
"This is mostly employees who have been given a second chance to improve and haven't. They will be sent over a period, in the next few months. We had to let go of 500 people last year on performance issues," a TCS spokesman told the newspaper.
The report did not specify countries where the job cuts would be made. TCS serves over 800 clients in 42 countries.
Indian IT companies are adopting stringent appraisal, cost-trimming and productivity-boosting measures as they deal with the global economic slowdown.
The firms are particularly worried about the crisis in the US since a bulk of their business comes from that country's financial sector.
TCS employees told the Times that the layoffs have already started at the company's development centres in southern Chennai city, where over 200 employees have been asked to leave in the last fortnight.
TCS, part of one of India's largest and oldest conglomerates, the Tata Group, recorded worldwide annual sales of 5.7 billion dollars for the fiscal year ending March, 2008.