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Wednesday, January 30, 2008

TCS cuts staff salaries...!!!!!

One of the leading Indian Software Company Tata Consulting Services (TCS) has announce some small salary cut for its employees based upon its moderate performance in the last quarter.

... is the time nearing in 2008 [:-(]

few quotes:

"A top company official confirmed the move while stock market analysts said TCS is sending signals that revenue growth has not met internal targets and employees can’t expect a big wage increase this year. "

"The cut is small and is unlikely to attract a howl of protests, but employees will get the message that all is not well with the sector. Instead of giving them a shock at the time of annual salary review, the management has sought to lower their expectations of wage inflation through this small cut"

"After years of heady growth, India’s outsourcing industry is facing the prospect of a slowdown due to US economic worries triggered by the sub prime mortgage crisis. Major clients may cut back their spending on technology and postpone up gradation. "

"A recruitment expert said a move by any of the top three software companies to temper variable pay would be quickly followed by smaller companies."

Detail Article HERE


Indian Software industry setback, TCS cuts employees Salary, TCS Employees, US Economy, Indian Economy, TCS Quarter Results

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Blogger Venkat said...

Just a cut on variable component... not truly a salary cut.

Anyway,future does seem to look bleak and I am happy.

1:06 AM  

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