With an aim to ensure smooth and efficient operations, Tata Trusts is restructuring internally. It is trying to embrace a more agile and cost-effective model of operations. The exercise will do away with the roles of chief financial officer (CFO) and chief operating officer (COO) among others, to manage staffing costs and bring about operational optimisation, reports Economic Times. Going forward, the organisation also plans to depend less on external consultants.
It has been reported that a financial assessment and audit had revealed the high expenditure on staffing to the tune of about Rs 180 crore. About Rs 400 crore had been spent on the workforce, including costs incurred by various projects that were implemented directly via contractors as donations. In future, such projects will be taken on only if absolutely necessary.
That means Tata Trusts will focus on functioning just as a trust is expected to— with emphasis on public service. The Trusts realises that maintaining ceremonial posts is a huge drain on finances, and leaves little for actual charity work for the general public.
Tata Trusts has been overseeing the charity/philanthropic activities of the Tata Group companies. It has been contributing significantly to the country’s healthcare, education and rural development. Tata Trusts has built capacities to advance health systems in the country. It has made cancer care more accessible and affordable for the Indian population. Its skill-development initiatives have benefitted over 3.2 lakh youth of the country.
The organisation had appointed Noel Tata as chairman earlier this month after the passing away of Ratan Tata.
