India's Top software services firm Tata Consultancy Services Ltd (TCS) is sacking 500of its employees as their performance was rated poorly.
TCS has also started pay cuts from the salaries, wherever internal EVA (economic value-added) target was not achieved. Shortfall of Rs 83 crore in EVA is being recovered from salaries of employees.
EVA is the difference between net profit and the cost of capital. In the quarter ended December 31, TCS appointed 4,037 employees, taking its total headcount to 108,229, up from 83,500 a year ago.
Sunday, February 10, 2008
Perform well or you'll get axed
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1 comments:
Pink slips have become norm not only in IT but in financial sector. Salaries as well as job risk has gone up
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