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Business News - English
Editorji Podcast
100 episodes
8 months ago
Business News Video: Get insights into the business world and stay up-to-date with the latest economy news video, sensex news, changing market trends and stock values in India and around the World at Editorji.
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All content for Business News - English is the property of Editorji Podcast and is served directly from their servers with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.
Business News Video: Get insights into the business world and stay up-to-date with the latest economy news video, sensex news, changing market trends and stock values in India and around the World at Editorji.
Show more...
News
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TCS abandons hybrid work, mandates full office attendance from October 1
Business News - English
2 years ago
TCS abandons hybrid work, mandates full office attendance from October 1
Tata Consultancy Services (TCS), India's largest IT company, is discontinuing its hybrid working policy. As per a report by CNBC-TV18, an internal communication was circulated earlier this month wherein the company has mandated that all employees must return to the office for five days a week, starting from October 1, 2023. Currently, employees are required to be in the office for only three days a week. The official communication states, "As communicated by the CEO and Chief Human Resources Officer (CHRO) in various town hall meetings, it is now mandatory for all associates to be present in the office on all working days (5 days per week if there are no holidays) starting October 1, 2023." In its FY23 annual report, TCS emphasized the importance of employees returning to the office. The report noted that more than half of the company's workforce was hired after March 2020, and these newer employees benefit significantly from physical interactions with senior colleagues and leaders to assimilate and learn from their behavior and ways of thinking. It's worth noting that TCS allocates more than half of its revenue to cover employee benefits. In FY23, the company dedicated as much as 56.6 percent of its revenue to employee benefit expenses. TCS is the largest private employer in India, with a workforce of over six lakh (600,000) employees as of March 2023. Consequently, this change in policy may have a significant impact on a large number of employees who will now need to commute to the office. Previously, in May 2020 during the first wave of the pandemic, TCS's then-CEO, Rajesh Gopinathan, introduced the "25x25 model," with the goal of bringing back 25 percent of the workforce to the office by the year 2025.
Business News - English
Business News Video: Get insights into the business world and stay up-to-date with the latest economy news video, sensex news, changing market trends and stock values in India and around the World at Editorji.