Top TCS executive feels layoffs aren’t that rampant in IT yet

While everybody is suspicious about the mass layoffs happening in the IT industry, Ravi Viswanathan, president (growth markets) of TCS commented that the numbers are exaggerated.

"Somebody has to take a closer look at the numbers. Most companies have said there are no layoffs but performance-related send-offs. Layoff means there is no work and such a company would not hire more. This industry has no concept of layoff, especially at this time," he told The Economic Times.

Many IT MNCs including Cognizant, Wipro and Tech Mahindra have been accused of layoffs, but TCS is among a few, who hasn’t the brunt of the disgruntled employees.

Regarding employees made to sit on the reserve bench for long and not supported for low performances, Ravi told the ET, “Every company has a programme to reskill and re-evaluate to put underperformers through interventions. Very few people actually fall off after these interventions."