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TCS is setting up a large BPO operation in Varanasi next year, some staff could be absorbed there LATEST NEWS : India's largest IT services firm Tata Consultancy Services is shutting its Lucknow centre as part of the consolidation of its UP operations and has asked its over 1,000-odd employees to either shift to its centre in Noida, Indore or any other facility in the country "We are consolidating our UP operations. There have neither been any job losses nor have we asked anyone to quit," said a TCS spokesperson. TCS is also setting up a large BPO operation in Varanasi, Prime Minister Narendra Modi's constituency next year and some of these staff could  be absorbed in the centre. The 10-year old facility in Gomti Nagar, does  internal process for TCS and has a small team that works on projects for  global clients. TCS employees in Lucknow were briefed about the development  on Wednesday, following which they have petitioned UP chief minister ...

In sound clip, Tech Mahindra HR heard blaming management for abrupt firing of employee LATEST NEWS : An audio clip circulated on SoundCloud, an online media library, supposedly by a Tech Mahindra employee who got fired on a day's notice has gone viral. In sound clip, the human resource (HR) executive is heard blaming the management for the abrupt decision of firing the employees on short notice. In the sound clip, the HR is heard saying: "This is a corporate decision. If you read the offer letter carefully, there is a clause that states – the company reserves the right to revoke your services at any moment by paying the basic salary. I can ask you to leave the company today end of day as per the conditions mentioned on the offer letter, which you duly accepted when you joined Tech Mahindra. Why did you sign the offer letter if you were not in agreement with the termination clause that was clearly mentioned in there?" The origin of the clip and authenticit...

Pharma stocks were the biggest losers with Nifty Pharma posting sixth consecutive session of loss Benchmark indices settled lower with Sensex shedding 200 points and Nifty ending below 9,400-level as investors booked profit in recent outperformers. The sentiment was also dragged by geopolitical tensions as Indian army strikes Pakistan military posts. The street also took cues from the global markets which were mostly trading lower post the explosion, at a concert by US singer Ariana Grande shook Manchester. The S&P BSE Sensex ended at 30,365, down 205 points, while the broader Nifty50 settled at 9,386, down 52 points. Read this: How taxmen nabbed black money hoarders who tried to beat the note ban The broader market underperformed the benchmark indices with S&P BSE Midcap and the S&P BSE Smallcap indices dipped over 1% each. "Investors became cautious after sudden hike in Indo-Pak tension. Additionally, higher than expected GST rate especiall...

According to reports, the 7 biggest IT firms operating in India are set to let go of 56,000 workers In his social media post, an anonymous techie called the recent spate of layoffs in the information technology (IT ) sector a "nightmare". The bad news is, the nightmare is unlikely to end anytime soon. The seven biggest IT companies operating in India, including Wipro, Infosys, Tech Mahindra and Cognizant, are planning to layoff at least 56,000 engineers this year, Livemint reported on Thursday. According to the report, this projected number is double the amount of layoffs by these companies last year. Mint claims the astoundingly high number was arrived at after "extensive interviews with 22 current and former employees across these seven companies". Read this: 62 million tonnes of waste generated annually; how ragpickers help clean it The companies concerned are Infosys, Wipro, Tech Mahindra, HCL Technologies, US-based Cognizant Technology Solut...

Firm says nothing new about it, laggards weeded out every year, this year is no different Software services firm Tech Mahindra has sacked thousand odd employees this month joining peers such as Wipro, Infosys and Cognizant to trim workforce as they face their worst business crisis in nearly a decade. Indian firms are witnessing their slowest growth in a decade due to automation, technology shifts and increased protectionism in its main markets. Global firms are shifting their budgets from traditional IT services to newer areas such as digital and cloud, which requires engineers to engage clients than work remotely. Also, low end maintenance work is increasingly automated forcing companies to shift them to other projects and reduce hiring from campuses. With growing stress on their business, IT firms are also increasing scrutiny on performance of employees and weed out non performers. Read this: Hero MotoCorp Q4 net falls 14% at Rs 718 cr over BS-III discounts ...