TCS: 500 resign on poor performance

BANGALORE: Tata Consultancy Services Ltd, India's largest software services exporter, said on Tuesday about 500 of its staff had resigned after their performance was rated poorly.

"Those who cannot meet the performance requirements of our company are asked to look for another job commensurate with their abilities," a spokesman for Mumbai-headquartered Tata Consultancy told Reuters. "This (financial) year so far about 500 people have resigned voluntarily." The company's financial year runs from April to March.

"It's not an exceptional thing, it happens every year and it's a part of our annual performance exercise. Last year also similar number of people left the company," the spokesman said. In the December quarter, Tata Consultancy, part of the Tata Group that has interests in cars, commodities and services, added 4,037 net staff taking its total headcount to 108,229, up from 83,500 a year ago.

India's export-driven software services companies have been winning large outsourcing contracts from western clients, but recession fears in the United States, a strong rupee, soaring wages and a skills shortage are major worries. At 0513 GMT, shares in Tata Consultancy was down 1.6 percent at 960 rupees in a Mumbai market that was up 0.3 percent.