Ppl, the US economy is gonna collapse. What we are seeing now is just the trailer, the movie is about to follow. IF the US economy crashes so does the INdian IT and housing sector. Banks go under because of all the loans taken by the IT employees. In short, India gets screwed big time if the US economy collapses. And we wonder, all of our brainpower, which could have produced miracles by doing research in all the fields, instead got sucked into IT, where they are jobless and have a loan to pay back. What a waste of all the talent and what a ruin of a nation.
It is very sad that a prestigious concern like TCS is pushing down the hard working employees by cutting their increment, variable pay, promotion saying the reason as low profit but giving a high hike for the top people. Its very unfair.
The top brass of TCS are Tata Sons' Employees!! Their hikers are "NOT" only decided by TCS board members only. These top brasses has given their lifetimes to the company (average of Ramadorai/ Chandra/ Ajoy Mukherjee's TCS experience is 20 years). Because of them your share is valued so high and has a potential to grow. Please do not get carried away with these foolish and bogus reports. They deserve what they are getting. Again, to re-iterate, their performance and remuneration is determined by Tata Sons' and has very little to do with TCS Board!!
Re: To Rediff and it's under informed readers
by jayaramakrishnan on Jun 10, 2009 11:28 AM
Having 20 yrs experience and knowing the current scenario , he should have rejected this instead of accepting bonus.
Re: To Rediff and it's under informed readers
by Usman Zaheer on Jun 10, 2009 09:27 PM
Manojit, Your message makes no sense. Do you think the employees have no right to the profits.
Re: To Rediff and it's under informed readers
by Hemant Tendolkar on Jun 10, 2009 02:28 PM
Boss, Mr Ratan Tata had clearly told all tata group companies to reduce salaries of top mgmt in order to save jobs and not reduce salaries of junior staff....
All the TCS emplyees are getting sucked and screwed like anything, as a reward salary decrement and .... wheras all the awards are going to the Top level, this is shame !!!!
WHAT I LISTEN FROM PEOPLE THAT IN GANDHINAGAR(AHMEDABAD) ,THEY EVEN DO NOT PAID YET TRAINEE WHO HAS TAKEN TRAINING LAST YEAR.EVEN SALARY CAME VERY LATE.
At a time,of great Global economic uncertainty & when IT companies in India are laying Junior Associates off and or getting rid of those on the bench;in the name of Cost cutting-A Pay Freeze for one year(not Pay Hike or Pay cut) would have sent a better signal to rank and file at TCS and the rest of the IT industry.
Now is the time when it makes sense,for most companies to conserve cash,rather than lavish it on Senior Executives-I am a TCS Shareholder and raised these very issues at the Board Meeting.The management assured me they will consider my remarks in the coming year.
Re: A Pay Freeze would have been more acceptable.
by PEEYUSH AWADHIYA on Jun 09, 2009 10:17 PM
Hi Ashish, TCS Has touched 765 rs /share today.I advice you to better sell off all your TCS shares.It is the best time to get away with them. Any improvement or process change or stringent measure should start from Top Management.But it TCS, it is other way round.If any hard decision is taken, it starts from Bottom level and any good thing goes to Top Level management.How can they justify this hike when they have reduced the subsidy on company transport, owing to which employees have to either travel at higher cost or travel through ST buses, since TCS has stopped buses on routes where there are many associates.Wonder they still call them selves leaders of TCS.
Re: A Pay Freeze would have been more acceptable.
by Bhasmasur Rakshas on Jun 09, 2009 02:48 PM
A company would dig into its cash reserves if it has some ambitious expansion plans.....the expansion plans of IT majors like TCS/Infy are dictated by the health of the BFSI segment.....TCS does not forsee much outsourced work from the US banks and financial services firms and thus does not see much of an investment in expansions....so, with cash at their disposal, they have chosen to reward the CXO level people by drawing into cash reserves.....
Shame to TCS Higher management....They are not giving any hike to employee...they are not giving any promotion to deserving associates...they are doing cost cutting at any means....but they are giving salary hike to them who are already highly paid...Shame!!!
* Premji accumulated $14 billion till date due to Wage Slavery (ie No Stock Options to Wipro employees). * N R Narayana Murthy accumulated $1.9 billion. * And Raju SIPHONED away $1.5 billion. * How much did they invest in agriculture sector where 80% Indians are living? * Govt must mandate these people to directly INVEST 35% of their PROFITS in Commercial Agriculture. * Otherwise, Govt must impose Food Security Tax on such business community.
Looks like you haven't been able to get a good education and loathe MBA's . Do you work as a chindi chor? as you seem too use that quite liberally .You skum of Accenture..
Earlier this year, Ajoy Mukherjee, the VP&Head, Global HR had released a notice to all TCS employees saying "TCS employee salaries would not be increased because TCS was adopting a cautious approach, keeping in mind the indicative market analytics". I guess that was just a fancy way of saying "Get prepared to be screwed, we won't increase your salaries, we'll stop your promotions... oh and btw, we're increasing our top management pay by 1 crore").
Re: Different Yardsticks !!!!
by dddelhi on Jun 09, 2009 10:55 AM
this is called a big joke from a big Joker called Ajoy... seems he has also received some increment...
