MUMBAI. Tata Consultancy Services (TCS), India's largest software services company, on Monday said the company is not retrenching thousands of employees."We would like to once again reiterate that there are no layoffs in the company," TCS said in a statement on Monday.
"A performance-based exercise is one that takes place every year. TCS is the largest recruiter of talent in India. In the current year we are recruiting 55,000 professionals to add to our workforce of 313,000," the TCS statement said.
TCS denied reports that it was planning to retrench 25,000-30,000 employees. HIndustan Times TCS staff churn: Bangalore IT crowd rally in protest, unions offer support