TCS Asks 500 Employees To Resign For Poor Performance

Mumbai: Tata Consultancy Services on Feb 5 said that around 500 (around 0.5 per cent of its total employee strength of over 100,000) of its staff have been asked to resign owing to poor performance. TCS'' move follows the cut that the company had effected on the portion of variable pay linked to the employees performance, reducing the salary by about 1.5 per cent for the January-March 2008 quarter. Last year also, around 500 people suffered a similar fate since they could not meet the performance rating numbers, the source said. In the third quarter ending December 31, 2007, TCS added 4,037 net staff taking its total headcount to 108,229, up from 83,500 a year ago.