When Tata Consultancy Services (TCS) said it would extend “care and support” to the 12,000 employees impacted by the recent layoffs, it was rather serious.
As per a ToI report, the Indian multinational has extended generous severance packages to affected staff members across levels, be it those on the bench, or those with long tenures.
Employees who were unable to upskill themselves or keep pace with the tech advancements within the company were reportedly offered three months’ pay to cover the notice period along with a severance package of at least six months’ pay to up to a year’s salary.
Additionally, TCS has offered to cover the impacted employees’ (including junior associates) outplacement agency fees for up to three months. Employees will continue to receive mental-health support under TCS Cares, which will allow them access to therapists for counselling in the short as well as medium term. Those on the bench who remained unassigned to any project for over eight months were offered only the standard three-month pay for notice period. Employees about to retire, reports ToI, have been offered a chance to opt for early retirement with full retirement benefits and insurance cover in addition to severance packages ranging from six months’ pay to two years’ pay, based on their time with the company.
Attractive severance pay of two years has been offered to those who have spent over 15 years with the company, while those who have served the company for 10 to 15 years have been offered a year and a half’s pay as severance.
8 Comments
Fake News, No Severance Packages are given by TCS
Hi Team
I am one of the victim of TCS lay off policy and I am going through a mental troma as giving 10 years of honesty and dedication towards my company I have been asked to resign.
Talking about support and Sevrence package these all news are absolutely Fake and bull shit as I have been given only 3 months basic salary .
So I am falling to understand that 6 month package and 1.5 month package from where it is coming from .
If any body from TCS or any Hr team can support me so I am sharing my details and give me my severance package for 1.5 years salary as my interview the catagory of 10-15 years of experience.
am also among the employees who were laid off by TCS, but I did not receive any severance package, outplacement support, or extended health insurance benefits as mentioned in the company’s public statements. It is disappointing to see TCS’s senior management, including the CEO, making claims in the media that do not reflect the actual treatment many affected employees experienced.
News is fake they are cheating on name of help neither 6 months payment is given
It’s all a lie
Tcs is spreading false propoganda of giving higher severance package.while only half or less is given irrespective of experience
Yes Fake News, No Severance Packages are given by TCS for me & my friends as well
Dear Vivaan ,
This news is spreading in market , could be a company PR strategy , to calm down the protest happening in different places .
Only option here , is to create a platform or channel with details of all suffered employees .
Stop bluffing
And have your bad dinner. One day you will also come out for street tea ?
This fake news. they gave me 1 month for working for them 10 yrs in USA.