Information technology multinational,Tata Consultancy Services (TCS) has assured that nobody will be losing jobs owing to slowdown.
The Company has assured that recession may result in termination of certain projects or a check on the launch of new projects, but that will only mean movement to offshore and not job loss.
The assurance comes at a time when there is a likelihood of an economic slowdown in the US. Also, the uncertainty pertaining to Brexit may impact the global growth of Indian IT companies, even though these companies predict sizeable growth has this year.
In fact, TCS had spent a significant amount —Rs 66,396 crore— on employee benefit-related expenses in 2018, which is 7.75 per cent more than the Rs 61,621 crore spent in 2017.