TCS has asked around 500 employees to leave from the company

Thebullishtrends: As per the latest reportsTata Consultancy Services (TCS) has asked around 500 people to leave the company after the second annual appraisal it carries out, citing performance-related issues. By the end of the financial year, this number could go up to 600, company officials told ET. The employees who were asked to leave are mostly those with 2-3 years of experience and do not include trainees because they have less than a year’s experience. Last week, TCS was in the news for cutting down the variable pay of employees for slippages in internal growth targets — a move that will save it about Rs 83 crore. However, the TCS management denied the move was linked to any slowdown worries. “This manner of forced attrition is only linked to the appraisal process. It is not linked to any other factor,” a TCS spokesperson told ET.