tata consultancy services (tcs)is gearing up to face tough times. Last week TCS reported that two of its Top 10 Clients (in us) delayed their plans to expand, or to be precise havent gone ahead with previously planned Development work.This will definitely affect TCS's Q4 numbers and in turn TCS might cut costs by delaying promotions of the Entry level developers.
The reduced salary structure may be norm for another quarter as well.
There is already rumors in Blogs and among TCS employees that the usual 4 year wait of promotions of ita's might become longer by one year (Five years).This could be very bad news for people expecting this ITA promotion this year.This promotion delay occurred once during previous it recession and even now many of the affected feel bad about late promotions.
There is already worry among employees after the earlier salary reduction.But the TCS employees working in overseas deputations were not affected by the salary cuts.
TCS also has changed its focus towards developing and upcoming markets like Russia and Latin American countries, this week TCS news Release said that they are targetting 2$ by 2010-12 in these regions.TCS is also planning to start operations in Russia and Egypt.They have 50-60 million dollars, in reserves for spending on expansion in these key markets.
This will cause a Keous in the Organizatinal employees. As they say there was a delay in promotion from last Dec. and still if the company extends the promotion cycle then this will impact the Employee good working towards the company and in extreme cases will leave the company.
Admin is not incharge of giving such comment or news. this news is totally false. Kindly check with HR of TCS.
Vijay Jayakar
TCS Admin in charge
Thanks Vijay Jayakar.
But This is still a rumour among many TCSers, hope nothing bad happens.
Any idea when will be the promotion letters get released for the employees who got initiated in Jan 2008.
Yeah..what ever mention is true..because i am one of them waiting for it. It defenitely affects the employees loyalty.
This news of promotion delay is correct. There were very minimal promotions approved that too only to highly experienced employees.
Most of the associates are awaiting for promotion approval from December 2007. When employees enquire with HR about promotions they get a reply from them saying “its pending with the CORP”.
Its unfortunate that i am also the victim.
Hi Vijay Jayakar,
FACT – The promotions did not happen.
FACT – JAN Promotions that were carried over to JULY. Still did not happen and there is a talk of them being postponed to Oct.
-MS
It happened again for July cycle. No updates till now. No one is responding.
@ Vijay Jayakar,
Please don’t lie or try to mislead people outside TCS.
I am a TCS-er and I know this is the truth and nothing but the truth.
TCS is causinng irrepairable damages to hundreds of associates’ careers by putting promotions on hold for so long.
Top management is not even putting up any official intimation as to why there is a delay.
This is just NOT done.
This is psychological torture. This is sadism.
TCS (any Software company ) is very different from other TATA group of companies like TATA Motors , TATA steel ,etc . At TCS people are core , whereas in other TATA companies machines and infrastructure matters. I m not saying that people doesn’t matter in physical work , but in software nothing other than people’s brain is invested.There is nothing outside apart from employees brain that gives business and quality. But in TATA motors , they can import some very good machine from German ,Japan and increase the quality and business productivity.
who quits ? It’s not the most intelligent or experienced people quit. The people who quit are the most Confident and brave people with little intelligence . But the important thing is only brave people use their intelligence. So again it’s not to be underestimated that people who are quitting , let it go …
Its a rumor, Promotions will be released by Sep end or first week of Oct 08..
I would like to also add that the head of TCS Corporate HR, Dr Ritu Anand personally replied to one of the innumerable queries posted in the intranet forums and said “There will be a corporate announcement on the promotions very soon”.
But no one knows how soon is ‘soon’.
It’s been about a month after that and no communication at all.
The HR/Corporate HR people of TCS earn millions just because we techies generate the revenues for them. The eat on the moneywe earn. In return, what we get is peanuts. No one is even bothered to listen to our issues/queries and whenever something not so positive happens to the market, the first and only set of people to be made scapegoat and penalized are the techies. We don’t get promotions, we don’t get hikes, we get pay-cut etc etc etc.
If TCS will delay the promotion or is going to make min exp 5 yrs for ITA then I certainlty TCS would be the biggest loser , TCS would lose its good resources.
If you see the latest trend of employees who are resigning the main reason is salary, and if TCS is expecting that by delaying the promotion he can expect good performance to its client then it is not true. I know many people who are damn good and they are ASE and are expecting promotion this year. They deserve promotion and if they dont get promotion this they year they would definately leave , I have been in interview panel for a long time and I know their worth . I know if they float their resumes in market they would definately get good salary hike with good profile also and finding right candidate is very difficuly and if TCS would get thay would ask for big money.
TCS is a big organization and should think long term and should not delay in promaotion.
They should know money loyalaity towards company is mattear but money also matters.
Thanks, Mukesh
Check this info…it makes sense than all the rumors..
[15 Sep 2008]
Dear TCSers,
I am pleased to announce that promotions this year will be done with effect from Oct 1, 2008. The overall business environment will remain challenging based on prevailing market conditions and the same has been factored in our total spend and consequently towards the increments associated with promotions.
Thanks to your tremendous effort because of which we have been able to go ahead with annual increments as well as promotions even in the current market conditions. Counting on your continued support.
Regards,
Ajoy Mukherjee
VP and Head, Global HR
ABHISHEK RANJAN – on 19th September 2008 at 05:48:28 PM IST
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this post has now been deleted from the news desk. So it does’nt have any credibility now. Now, since they (TCS) have drastically deleted the post and tried to eliminate all the traces of it, the suspicion is coming into my mind that, whether they are thinking of some thing we are fearing from the begining. 🙁
PRATEEK SRIVASTAVA – on 19th September 2008 at 06:04:16 PM IST
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I have forwarded the mail to my mail box and also have the screenshot. So trace is not eliminated 🙂
By ARIJIT GUPTA posted on 19th September 2008
Y the post has been withdran as confirmed by local HR here…so still no news and way things r being handled is very pathetic and unprofessional!!!……
SWATI GUPTA – on 19th September 2008 at 06:26:23 PM IST
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It is still there. It is 7.45 pm 19th Sep and the news is visible. May be they intend to delete – but it did only on few servers!
Hello dear,
Is it really a reply from Ajoy Mukherjee or jst another rumour ? If yes than when is the expected date of releasing promotion list , moreoevr it should be effective from July 1st, 08 not form Oct 1st,08.
Thanks
Finally a message in news desk from Ajoy that the promotion will not be done in the second quarter. Very bad and it is ver ydiscouraging.
I think we all employees of TCS who were due for promotion should protest in some way. The market condition is not so bad as to halt the promotion.
Offical Message has been Posted.
DOOOMED………
The process of assessing individuals who are eligible for promotions has been completed in time. We have reviewed the impact of promotions and have considered the current business environment which remains challenging and is expected to remain so for the near future.
Considering the recent upheavals in the US Financial market that has had global impact on the financial sector, we feel it would be prudent to wait for clarity in the business environment before we take a decision on promotions. As a result, the promotions will not be effected in second quarter this year.
I recognise the immense contribution that all of you are making towards the profitable growth of our company and I am sure you understand and appreciate the compulsion for postponing this decision. I will inform you once we take a decision on promotions.
It’s delayed indefinately. TCS really S***
Message from VP and Head, Global HR on Promotions
[22 Sep 2008]
Dear TCSers,
The process of assessing individuals who are eligible for promotions has been completed in time. We have reviewed the impact of promotions and have considered the current business environment which remains challenging and is expected to remain so for the near future.
Considering the recent upheavals in the US Financial market that has had global impact on the financial sector, we feel it would be prudent to wait for clarity in the business environment before we take a decision on promotions. As a result, the promotions will not be effected in second quarter this year.
I recognise the immense contribution that all of you are making towards the profitable growth of our company and I am sure you understand and appreciate the compulsion for postponing this decision. I will inform you once we take a decision on promotions.
Thank you for your support.
Regards,
Ajoy Mukherjee
VP and Head, Global HR
Latest News !!!! Experience a real UNCERTAINTY
[22 Sep 2008]
Dear TCSers,
The process of assessing individuals who are eligible for promotions has been completed in time. We have reviewed the impact of promotions and have considered the current business environment which remains challenging and is expected to remain so for the near future.
Considering the recent upheavals in the US Financial market that has had global impact on the financial sector, we feel it would be prudent to wait for clarity in the business environment before we take a decision on promotions. As a result, the promotions will not be effected in second quarter this year.
I recognise the immense contribution that all of you are making towards the profitable growth of our company and I am sure you understand and appreciate the compulsion for postponing this decision. I will inform you once we take a decision on promotions.
Thank you for your support.
Regards,
Ajoy Mukherjee
VP and Head, Global HR
—
Message from VP and Head, Global HR on Promotions
[22 Sep 2008]
Dear TCSers,
The process of assessing individuals who are eligible for promotions has been completed in time. We have reviewed the impact of promotions and have considered the current business environment which remains challenging and is expected to remain so for the near future.
Considering the recent upheavals in the US Financial market that has had global impact on the financial sector, we feel it would be prudent to wait for clarity in the business environment before we take a decision on promotions. As a result, the promotions will not be effected in second quarter this year.
I recognise the immense contribution that all of you are making towards the profitable growth of our company and I am sure you understand and appreciate the compulsion for postponing this decision. I will inform you once we take a decision on promotions.
Thank you for your support.
Regards,
Ajoy Mukherjee
VP and Head, Global HR
Promotions not happening in near future…Indefinetly on hold…Frustation creeps in..
What a co-incident…TCS was just waiting for this to happen, so the promotion can be delayed.
Cheer up guy! nothing to worry…DAER hain par ANDHAER nahi.
This is published @ TCS’s internal website. Hope everyone got the answer now.
————————-
Message from VP and Head, Global HR on Promotions
[22 Sep 2008]
Dear TCSers,
The process of assessing individuals who are eligible for promotions has been completed in time. We have reviewed the impact of promotions and have considered the current business environment which remains challenging and is expected to remain so for the near future.
Considering the recent upheavals in the US Financial market that has had global impact on the financial sector, we feel it would be prudent to wait for clarity in the business environment before we take a decision on promotions. As a result, the promotions will not be effected in second quarter this year.
I recognise the immense contribution that all of you are making towards the profitable growth of our company and I am sure you understand and appreciate the compulsion for postponing this decision. I will inform you once we take a decision on promotions.
Thank you for your support.
Regards,
Ajoy Mukherjee
VP and Head, Global HR
———————————-
Tx,
SC
It’s official now. Once all top-management people and members of the ‘Corporate HR’ group got their promotions, they have decided to put all other promotions On Hold indefinitely.
They are simply exploiting us as they know very well that with the present job market being very tight most of us are going to stick to TCS no matter what treatment is being metted out to us. Exploitation at its worst. All people eligible for promotion this year are forcefully being made to lose a year each of their career.a
Today the problem with the employees are they only think of thenselves not about the organisation. If you are facing financial problem in your house are you going to leave your house and go to some one else house? If not then why dont you think the same for your organisation.
TCS is an organisation that very clearly communicates all messages at peroper time within their limitation. When TCS gives you something good then you are happy and when ever the organisation is running through some rough time you will run away. This is not the correct attitude.
Hope you all understand.
Dear TCSer,
Hope you know the motto of TCS. It is : Experience Certainty. But the second part of the motto is to experience certainty in dissapointment.Here is the latest news from the HR regarding promotion..
The latest news is that the promotion is delayed indefinitely…
I feel that it is better to pay a lower salary and maintain consistency than pay huge amounts of money and become bankrupt like Lheman Bros.
See where their trend of paying huge amount of money has got them today.
Please note that it is not the “HR people” who are earning millions.The revenue does not go into their pockets.The effect of the EVA is seen on everybody’s salaries of which HR is a part.
Just check the ultimatix, there is new publication from Ajoy Mukherjee saying that promotion will not happen in 2nd quarter. and no mention about future.
BK
What about this ? which is posted in ultimatix on 22nd Sept 08
22 Sep 2008]
Dear TCSers,
The process of assessing individuals who are eligible for promotions has been completed in time. We have reviewed the impact of promotions and have considered the current business environment which remains challenging and is expected to remain so for the near future.
Considering the recent upheavals in the US Financial market that has had global impact on the financial sector, we feel it would be prudent to wait for clarity in the business environment before we take a decision on promotions. As a result, the promotions will not be effected in second quarter this year.
I recognise the immense contribution that all of you are making towards the profitable growth of our company and I am sure you understand and appreciate the compulsion for postponing this decision. I will inform you once we take a decision on promotions.
Thank you for your support.
Regards,
Ajoy Mukherjee
VP and Head, Global HR
I found this on ultimatix home page
22 Sep 2008]
Dear TCSers,
The process of assessing individuals who are eligible for promotions has been completed in time. We have reviewed the impact of promotions and have considered the current business environment which remains challenging and is expected to remain so for the near future.
Considering the recent upheavals in the US Financial market that has had global impact on the financial sector, we feel it would be prudent to wait for clarity in the business environment before we take a decision on promotions. As a result, the promotions will not be effected in second quarter this year.
I recognise the immense contribution that all of you are making towards the profitable growth of our company and I am sure you understand and appreciate the compulsion for postponing this decision. I will inform you once we take a decision on promotions.
Thank you for your support.
Regards,
Ajoy Mukherjee
VP and Head, Global HR
I think TCS will loose good resources after doing all this. It may go further down…down and down………
I dont understand who is entering comments using my name ??
I want to know…..Why are you using my name???
Message from VP and Head, Global HR on Promotions
[22 Sep 2008]
Dear TCSers,
The process of assessing individuals who are eligible for promotions has been completed in time. We have reviewed the impact of promotions and have considered the current business environment which remains challenging and is expected to remain so for the near future.
Considering the recent upheavals in the US Financial market that has had global impact on the financial sector, we feel it would be prudent to wait for clarity in the business environment before we take a decision on promotions. As a result, the promotions will not be effected in second quarter this year.
I recognise the immense contribution that all of you are making towards the profitable growth of our company and I am sure you understand and appreciate the compulsion for postponing this decision. I will inform you once we take a decision on promotions.
Thank you for your support.
Regards,
Ajoy Mukherjee
VP and Head, Global HR
Delayed promotions : It’s all over the internet now.
Don’t know who and how but it’s quite evident that somebody has even managed to pass on the official communications from Ultimatix to the media. 🙂 🙂 🙂
http://www.dexternights.com/?p=84#comment-8002
http://infotech.indiatimes.com/News/Now_TCS_postpones_promotions/articleshow/3514878.cms
Devalin Sarkar – on 23rd September 2008 at 12:20:20 PM in HR > Career Paths
promotion delay media internet hr corporate hr exploitation taking undue advanage of present market
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It is NOT nice if somebody from inside passes on the information to Press.
Venkata Prayaga – on 23rd September 2008 at 12:34:54 PM IST
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Yeah it’s NOT nice but it definitely some insider who has done so. But one thing is certain – it can’t be someone from HR/Corporate HR because they know such things won’t give a nice impression about them to outsiders. 🙂 My bet would be one of the numerous ‘victims’. Yes, a ‘victim’.
By Devalin Sarkar posted on 23rd September 2008
I don’t think its wrong at all! TCS is a publically listed company. All shareholder have a right to know what is happening within the company which might concern them. To me this is totally legitimate!
By ATUL AGARWAL posted on 23rd September 2008
Yes Venkata its wrong for us, but please see so many values/ethics have changed at org and individual levels and we cannot live in our good old nineties.Prompt communication and logical explanation is a normal expectation for the current generation and not abstract terms.
By JAGAN CHEMICALA posted on 23rd September 2008
I am sure senior management would have taken this into consideration while posting the update on Ultimatix. You cannot possibly stop people from passing out such information and also cannot fing whodunit!!!
By HARISH MUNDRA posted on 23rd September 2008
Did you see that. “No one was available from TCS for comments.”
DIPEN DAS – on 23rd September 2008 at 01:31:44 PM IST
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The very reason why Corporate followed “We do not accept or Deny” policy and have not spoken about this is for this kind of reasons. Anyhow now atleast there is some backing for the delay in terms of Lehman Bro’s and market condition. So the impact of the delayed promotion is less compared to few weeks back. We (TCS) played it safe so far.
SUBRAMANIAM THANIKACHALAM – on 23rd September 2008 at 01:57:05 PM IST
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I don’t think its wrong at all! TCS is a publically listed company. All shareholder have a right to know what is happening within the company which might concern them. To me this is totally legitimate!
ATUL AGARWAL – on 23rd September 2008 at 02:05:59 PM IST
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Its not wrong if communicated to outside by right people. Whoever has given this out has violated the Privacy and Information Security policy of TCS.
By SUBRAMANIAM THANIKACHALAM posted on 23rd September 2008
And those who delayed this communication, as well as the promotion process itself have violated the main policy of TCS i.e making people “Experience Certainty”.
By Devalin Sarkar posted on 23rd September 2008
This is really sad. Posts from JustAsk should not have been leaked. I saw those posts also on the internet. This certainly is not in good spirits and we should take this decision of delayed promotions in a matured fashion.
SAPAN OZA – on 23rd September 2008 at 08:57:31 PM IST
Why TCS is impacted by fluctuation of market and not Infy?
Last year when dollar was weak EVA was recovered for associates but that time Market was doing alright. This time US market is turbulent but dollar is doing very well and this time no promotion. Why Infy is not very much affected by all this? Are our HR policies really targetting at welfare of associates or are they targetting associates 🙂 ?
SUSHANT GUPTA – on 23rd September 2008 at 07:48:35 PM in HR > Others
hr policies promotion market fluctuation
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I read in one of the articles that Infy tops on the category of salary Hikes given to employees this year. I hope Lehmen Brothers and ML are big accounts to TCS and Wipro. So it cud have been a harder hit for us..
Brenesh Stanslas Flower Mary – on 23rd September 2008 at 07:52:58 PM IST
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What about EVA recovery last year? LB , ML and AIG
By SUSHANT GUPTA posted on 23rd September 2008
The stunning fact is the Lehman brothers and Merill Lynch event occured just 1 week back.But the promotions were supposed to role out in July but we got no posting regarding this until this week.So is it the actual issue or there are some other factors behind this ?Because we got a communication for an event that was supposed to be role out in July/August in Septemeber end relating it with the Lehman Brothers and ML event that hapeend couple of weeks back!!!
By PANKAJ CHAUDHURI posted on 23rd September 2008
The reason being TCS has 45% of its revenue from BFS
K S Thru Sai Krishna – on 23rd September 2008 at 08:30:09 PM IST
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Seems logical!
By SHRIKRISHNA KULKARNI posted on 23rd September 2008
The stunning fact is the Lehman brothers and Merill Lynch event occured just 1 week back.But the promotions were supposed to role out in July but we got no posting regarding this until this week.So is it the actual issue or there are some other contributing factors behind this ?Because we got a communication for an event that was supposed to be role out in July/August in Septemeber end relating it with the Lehman Brothers and ML event that happened couple of weeks back!!!
PANKAJ CHAUDHURI – on 23rd September 2008 at 09:11:38 PM IST
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This is not based on event but on situation, when there is so much confusion in financial markets, taking any decision is like shooting at moving targets.
By SHRIKRISHNA KULKARNI posted on 23rd September 2008
Regarding the EVA thing in Infy even the best rated person was given 90% Variable allowance…So it is not much different that…Just that here we are blowing it out of proportion….
And in Infy the promotion letters arent out yet for this cycle..So its too early to commnent….
VENKAT SRIVATSN BALASUBRAMANIAN – on 23rd September 2008 at 10:13:34 PM IST
TCS management has planned the release of this information as if this is purely on the basis of Lehmann Bros collapse. But the promotion letters were due to be given in July. It seems our great management has an inkling at that time that the Lehmann will collapse. Great!!
Have you checked ultimatix on 22nd, finally Ajoy has given a stmnt of no promotions this cycle…leaves us with no option but to resign and look out for something better.
One dejected TCSer posted a very sincere question in internal blog to the corporate HR to be answered by them only a week back..
So far the Corporate HR has not come back on this. Clearly shows how the Coporate HR is employee friendly. The question goes like this.
Quote
This has been 407th thread concerning promotion and I see only one response from Corporate HR dated 27th August 2008, saying “communication shall be posted soon”. Soon is a relative term and it took 1 month to get the answer. Now that verdict is out, that has affected thousand of employees and expectation of employees and their family, we would like to get more insight into it. We need to know the thought process driving this decision and the way ahead. We know that voice of employees reaches you. So sparing some time to answer this should be worth considering the mass that are affected. Else all the grievances raised so far through various means become futile.
Folks – If you are not amongst the one involved in decision-making process regarding promotion, kindly do not answer to this post at this moment. We spoke a lot and its time for us to hear them.
I may not be allowed to answer this post further. So lets assume one protocol – No one answers this thread until we have Corporate HR respond back. If we are lucky and they do respond, let’s put forward one question at a time. Post the next question only if we get answer to our previous query.
Unquote
Either they have no clear answer for this or they want employees to suffer more.
Frankly ..Mr Ajoy and Mahalingam are not capable for the job..Mr Ajoy should have accessed the situation much before. Moreover the loss of profit should be rationalised across the employee pool rather than some bunch of people eligible for promotion.
This is poor planning. Tata Code of conduct talks about equality in employee and this reflects absolute partiality…..
This has happened earlier also . TCS delayed promotion and reduced salary when achieved 1 Billion dollar. Some one said when TCS gives then we don’t say anything.
TCS has give a T shirt last time in 2001 and after that even there is not a single diary given to the employee…
So guys take ur own step….
Rumor is around that that there are plans to give pink slips to some Sales staff, HR and Middle Level Technical Management as Business is painfully slow in TCS.
I don’t know what is happening in TCS.
They are giving more salary to juniors.
They already cut down confirmation package.
Why HR people are doing this?
What they will gain?
We all are same qualified but only 2007 batch is suffering now nobody is understanding.
In TCS the MISSION is going completely off the track. There are no VALUES in the organization. The top management has completely lost the VISION set for the company.
TCS is now amongst the company which considers employee growth and their rightful dues as a liability. They want their employees to work and get revenues.. but dont want to share it. Pay less for more is the mantra. And with this atmosphere, the best will leave. Imagine it happening in a manufacturing firm. Violent strike would have occured with management asking for protection. But not in IT
There is no transparency in promotion policy. The message from HR head definitely questions the “Value System” within the organization. Why similar announcement was not made when there was a sudden change in mid year promotion policy. The top management should be accountable to the associates who are consistent performers, eligible for promotion and also have been recommended for promotion. The move was well planned and was declared at the end of the second quarter – stating “no promotion will be given in 2nd quarter and bla bla..” So nobody knows when actually the letters will be published . Associates are loosing confidence on top management which is not a good sign for the company. TCS should not expect loyality from consistent performers henceforth.
I ve been observing this closely and you can bet the promotions are not going to occur before March 2009. Might be later still. All IT companies have a turbulent time ahead, but TCS didn’t had guts to take care of its workhorses. Unlike Infy and others who did gave promotions.
They delayed the announcement that there will be no promotions so that there is min attrition and now they are saying its indefinately suspended. TCS is playing dirty games on its loyal emplyoees. I work in a project for a US investment bank and even they gave promotions even in such hard times.
TCS (any Software company ) is very different from other TATA group of companies like TATA Motors , TATA steel ,etc . At TCS people are core , whereas in other TATA companies machines and infrastructure matters. I m not saying that people doesn’t matter in physical work , but in software nothing other than people’s brain is invested.There is nothing outside apart from employees brain that gives business and quality. But in TATA motors , they can import some very good machine from German ,Japan and increase the quality and business productivity.
who quits ? It’s not the most intelligent or experienced people quit. The people who quit are the most Confident and brave people with little intelligence . But the important thing is only brave people use their intelligence. So again it’s not to be underestimated that people who are quitting , let it go …
TCS (any Software company ) is very different from other TATA group of companies like TATA Motors , TATA steel ,etc . At TCS people are core , whereas in other TATA companies machines and infrastructure matters. I m not saying that people doesn’t matter in physical work , but in software nothing other than people’s brain is invested.There is nothing outside apart from employees brain that gives business and quality. But in TATA motors , they can import some very good machine from German ,Japan and increase the quality and business productivity.
who quits ? It’s not the most intelligent or experienced people quit. The people who quit are the most Confident and brave people with little intelligence . But the important thing is only brave people use their intelligence. So again it’s not to be underestimated that people who are quitting , let it go………………..
There is high chances a stagnant career in TCS. Most suffered in this organisation. I am one of such victim. Delay in everything, laid back attitude of top management and very bad practise of not sharing the profit fairly with people who have struggelled, worked. There is not clear idea for the management on the career of the associates who work for this company.
INfact infy revenue is lesser than TCS revenue but net profit of infy is more than TCS. real reason for less net profit unknown. May be infy management is more efficient interms of planning the finance and expenditures.
Now I am more relieveved that I am no more with TCS
TCS isn’t giving promotion but hiring people. what an irony
————————-
Dear TCSers,
More Information:
TCS Q2 Results [Press Release, 22 Oct 2008]
Financial Results (Indian GAAP) [pdf 130 kb]
Operating Metrics Quarter 2
[pdf 133 kb]
Analyst Presentation Quarter 2 [pdf 889 kb]
Press Release: Financial Results (US GAAP)
[pdf 347 kb]
I write to you as we declare our Q2 results. As you would have read, TCS’ operational performance in Q2 and H1 of FY09 has been satisfactory. Revenues for the Quarter were Rs. 6,953 Crore (US$ 1574 million) – a growth of 8.5% in Rupee terms and 3.2% in US dollar terms.
TCS has a robust, resilient business model and we continue to drive growth. Our focus has been on sustaining long-term growth – organically and inorganically – as well as balancing growth across markets and verticals, improving productivity of all resources and ensuring a sustainable margin scenario. In these challenging times, our drive towards tightening operations is reaping benefits and the highlight of this quarter has been our operating performance.
I greatly appreciate the effort undertaken by all of you to drive operational excellence across TCS and want all of us to focus on this going forward as well, as Ajoy Mukherjee the HR head has urged us to do.
There have been many unsubstantiated reports in the media and on the web about job losses in TCS and delays in joining. I would like to reiterate that we continue to hire people. For the last 40 years, we have been building this institution, investing in training people and nurturing them irrespective of the external scenario, we shall continue to do so.
In the first half of the current financial year, we have hired over 18,000 professionals and we remain on target to meet our annual hiring plan of between 30,000 and 35,000 people in the current financial year. In addition, we have also made over 24,500 campus offers for the next financial year. As you can see, we are continuing to make investments for our growth in terms of employee addition, investments in sales and creation of infrastructure.
I would like to end by wishing all of you and your families the very best for the Festival of Lights. Happy Diwali!
Best Regards,
S. Ramadorai
People who are confident (high performers) please leave the company. Please dont keep expecting promotions herafter. You will not get it.
Thts true…there will be no promotions even in 2009. We have to accept it..and market conditions is not so good to change the job so guys its our badluck. Njoy new year w/o tear… 🙂
Mr. Ram ,
You are very frustrated , please dont write such thing sin blog , we are trying to identify the ip from where you have written scrap
Total Eyewash
TCS Management should realize that their future lies in the hand of their EMPLOYEES and not on major acquisitions like CitiBPO (even in times of market crisis) in the name of Secured Future investments.
Finally …. most awaitted promotion has happend.
avg raise of 2%.. 🙂
No change in Basic Salary (whcih impacts most of the other component based on Basic)
TCS top mgmt hike ?? 40 %…..
way to go TCS mgmt.