Wednesday, September 16
Tata Consultancy Services (TCS) will freeze the hiring of experienced personnel and pause annual salary increases globally, said people aware of the development. Coming on the heels of the shock announcement by India’s largest IT employer that it will sack 12,000 people or 2% of its workforce of 600,000, this has added to the anxiety that’s gripping the sector battling slowing demand and the threat of artificial intelligence culling jobs. Analysts said the TCS move may be adopted by other companies that are facing similar headwinds. Onboarding delays for those with experience who have been hired exceed 65 days, according to the people cited. The Tata Group unit has already started phasing out hundreds of benched staff in Hyderabad, Pune, Chennai and Kolkata, in line with its new policy
