TCS asks 500 employees to leave

MUMBAI: India's leading software services firm Tata Consultancy Services Ltd (TCS) said on Tuesday that about 500 of its employees were asked to look for another job after their performance was rated poorly.

"Those who cannot meet the performance requirements of our company were asked to look for another job commensurate with their abilities," TCS spokesman Pradipta Bagchi said.

In the quarter ended December 31, TCS appointed 4,037 employees, taking its total headcount to 108,229, up from 83,500 a year ago.

The export-driven software services companies have been winning large outsourcing contracts from western clients, but recession fears in the US and a rising rupee against the dollar has considerably affected their profit margins in the recent past.