TCS to cut costs by freezing lateral hiring

TCS to cut costs by freezing lateral hiring

TCS is one of the largest IT companies in the Indian market.

The company is not untouched by the ongoing economic crisis.

TCS has said that they are going to cut costs by taking steps including freezing lateral hirings.

The company assured that they would honor its commitment on hiring 24,800 people during financial year 2009-10.

Ajoy Mukherjee, vice-president and head-global human resources, TCS added: “We have been very controlled about the numbers that we take from here. The focus is on trainees as from cost management perspective this will balance out.”

Market analysts had this to say about TCS: “It’s a business environment that is making the company look at such measures. But this will certainly help it manage cost as unlike its peers TCS did hire a lot of experienced people. But that is also because it has a higher component of R&D work. Two, we think it will help the company garner a good position in terms of credibility and branding in the long run.”

TCS has just signed on a deal with Ducati to provide them with IT services.