TCS Layoffs: Modi government issues BIG Statement, says 'Keeping close eye on…', TCS CEO says Reason for this decision…
The report further states that approximately 12,000 employees—about 2 percent of TCS's total workforce—were laid off on July 27 as part of the company's efforts to become more agile and future-ready. 'Industry and academia will also have to address skilling and re-skilling related issues. We are keeping a close eye on all of this,' the source told Moneycontrol. TCS CEO Krithivasan on Layoffs
In an exclusive interview to Moneycontrol, the TCS CEO Krithivasan said that the move by the company is not a reaction to AI adoption but a step toward future-proofing workforce skills. 'No, this is not because of AI giving some 20 percent productivity gains. We are not doing that. This is driven by where there is a skill mismatch, or, where we think that we have not been able to deploy someone,' Krithivasan also told Moneycontrol
This decision will majorly impact some of the entry level associates who have been on the bench for a long time along with middle and senior level employees for the most apart. Employment Linked Incentive Scheme
Additionally, the Union Cabinet approved a Rs 99,446 crore Employment Linked Incentive (ELI) Scheme on July 1. This aims to accelerate job creation with a special emphasis on manufacturing and also seeks to create over 3.5 crore new jobs over a period of two-years. Under this initiative, first-time workers can receive a one-time wage support of up to Rs. 15,000, and employers will be rewarded for job creation over the next two years.
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