I think every tcs guy will accept this for this time and only for 2 months.... but long term no possible... As everybody know abt the reputaion of the company
RE:RE:accept
by saravanakumar lakshmanan on Jan 31, 2008 11:38 PM Permalink
They have clearly said in the letter the salary cut will continue in q-4 also.
RE:accept
by gaurav arora on Jan 31, 2008 07:36 PM Permalink
The salary cut is becoming a regular event in IT..I believe all IT guys should also train themselves in other training modules like ..candle making , handicraft, carpentry,making food,(ofcourse i believe in indian engineering colleges they teach in the first year since they know what is in store for us in future...
The projected profit for the quarter is a organization goal. Its natural for an organization to look at the ways of minimizing the loss or atleast nearly meeting the expectations. Directly or indirectly the employees are/should be inclined to that. And a short term/temporary salary cut is not to be looked at very seriously, or need not relate to recession directly. More companies might adopt similar norms. This is all in the game. But IT is here to stay, but ups and downs would be there as it may happen to any other industry. The fears of recession will have linkage to US Market because over major revenues come out of software exports and US is one of the major prospect for us. The vision or focus at this time should be to find niche markets which are from diverse potential destinations (Ex. Germany / MiddleEast..). And at the same find big domestic prospects too. Future is never bad.. and No worries.. Abhay Anurag
I think its a good decision by the mgmt.. the indian IT segment is full of hype and the guys are paid for not what they produce but on the brand value. A correction is needed in IT. If $ loses the value, indian IT will loose the edge to countries like Brazil, Mexico, Russia etc.
I'm a software programmer myself and I've already heard stories from my friends & contacts that TCS are very bad paymasters, not to mention anything of the appalling work environment. Even now they are the first major Indian company to kick its employees in the belly, in order to make a pathetic attempt at "recovering" their losses. What a shame! I pity those poor guyz who might have been so happy to join TCS before only to realize how sickening their policies really are.
RE:TCS
by on Jan 31, 2008 08:15 PM Permalink
I dont think as an outsider you can comment on this aspect. In the Y2K bubble burst and IT slow down in 2001-02, TCS was the only IT company who neither did a lay-off nor did it drop any of the campus offers it had made.
Every year all big IT companies cry in the month of Jan/Feb/Mar. The big reason is to not to give good increment or raise to there employee in April. Can anyone think in this way - How come they repeat the same result in Jan/Feb/Mar every year? And everytime the bottom 3-4 layer suffers, there is no effect on upper management.
RE:All Bakwas
by carrier on Jan 31, 2008 07:32 PM Permalink
yes i agree with you. nowadays 1 USD-Rs39. if the 1 USD becomes equal to Rs 45 or above is these companies will hike the salary in according to the USD vs Rupee.?
Yes thats right. TCS has cut around 30% of the Variable allownce. But, I am not sure what are the long term policies of these companies. Few months back they were hiring like anything. A walk-in planned on each weekend. If they cannot sustain the current employees. then why are they hiring more. You will find lots of people on banch in these companies. The companies must utilise them first.
RE:Confused HR policies
by gaurav arora on Jan 31, 2008 07:18 PM Permalink
Well if you go t bihar or kolata you will see daily wagers standing in a line to earn their bread and only bread(no butter)for the day.The day is not far away my friend in IT it seems..Standing in a queue to develop few lines of codes or a fix and wait for the next day and yes ofcourse the management will give you 20% less for daily wage as their commision but will make u sign( or put the thum mark..ofcourse the software you develeoped in good days)..
RE:Confused HR policies
by prince on Jan 31, 2008 07:28 PM Permalink
If such is the scenario you mentioned above...then the will only be support projects...no development work at all...so IT guys need not write A FEW LINES OF CODES as well..
RE:Confused HR policies
by suravarapu vasu krishna on Jan 31, 2008 07:48 PM Permalink
The place where i stay in Hyderabad,the rent fluctuates with Software industry.,so i keep a close look thinking rents may drop..
Well, it might be a surprise to many, but it was always on the cards. The way IT companies recruited last year..and the way dollor valud dropped its not a suprise.
TCS,IBM,CSC,Wipro already started the layoff. Many people are asked to resign and its just starting. US economy is not a good sign for people with H1B too, people who quitting IT companies in India and chasing $s..
RE:It was Bound to Happen!
by suresh babu on Jan 31, 2008 07:41 PM Permalink
The way indian companies are run it is bound to happen. Below are listed reasons that is affecting the s/w companies. 1) Companies recruit many over qualified people for doing s/w testing and give hefty salaries, which can be avoided by recruiting non-engineers. 2) They give flexi timings and employees take that advantage and use it for their personal things. Especially women are given flexi timings and they come @ 11:30-12:00 and leave office by 5:00 -5:30 and they are not accountable. In India Women think that coming to office itself is a great service they are doing to the company. 3) Many software companies ask their employees to go for trainings/certifications just to get projects, they are not bothered about employees. They give number of ppl having skillsets and get projects, though they lack in depth knowledge.
Well..problem is not the pay-cut..problem is with the non-transparent policies. and the way EVA has been used to tamper with employee's salary. If EVA target is decided in advance..why are the employees not informed ever about EVA target for the quarter..now also, noone knows what is the EVA target for Q4. There certainly is a EVA reserve account..to put-in or pull-out in case actual EVA is more than or less than the target. Noone knows what happened that EVA reserve account and how much is left in it now. as such pay-cut of 1.5% (net 1.05% after tax-savings) is not going to impact much..but this is a trend set by company starting with such a low cut, not to arouse any controversies..but I am sure now when the trend is set, it is going to be more cut in Q4..so be prepared!!
RE:Transparency
by prince on Jan 31, 2008 07:35 PM Permalink
Also the problem is not the cut also.It's employees' duty to participate/contribute in organization's profits as well as losses. But is it not organization's duty to pay the employees back ?.....Say if TCS has got 50 Crore more than target..why not give it to the employees as bonus ?.....Now they are cutting the salaries...but as far as I know..there is no bonus given to the employees if TCS exceeds the target.....That's really a matter of concern....
can anybody give an idea how much TCS pay yearly at entry level(1 yr. exp.) and how much percentage is being cut? then the picture would be more clear....
