India's largest IT exporter Tata Consultancy Services [TCS] is planning to cut down it employees size and at the same time might hike the annual pay for the freshers. As part of restructuring process, TCS might bid a send off to the non-performers and from middle range to the senior level, these cuts could be more in number.
Coming to the freshers, TCS will recruit 35,000 new faces on an average every year and for years, the pay scale for freshers has been the same. For the most talented persons, it recruits and to give a brighter opportunity, TCS is looking to hike the annual pay. 70 percent hike is expected for the new comers and this also depends on their merit and performance in the recruitment process.
TCS has 3,13,757 employees which makes an annual turnover of USD 13 billions. The biggest IT exporter has already offered jobs to 31,000 people in the last eight months and for the 2014-15 fiscal years, TCS is planning to hire 55,000 youth. TCS has a placement cell in 370 major institutions in the country.