TCS Offers Generous Severance Packages to Laid-Off Employees
Tata Consultancy Services (TCS) has initiated severance packages for employees whose skills no longer align with the company's current needs. The packages, ranging from six months to two years' salary, are based on the employee's length of service.
TCS is offering the most generous severance, up to two years' pay, to employees with over 15 years of service. Those with 10-15 years of service receive around 1.5 years' salary. Meanwhile, bench employees unallocated for over eight months are offered a simpler package with just three months' notice pay.
To support affected employees, TCS provides career transition assistance, including outplacement services. Some junior associates may receive extended support. The company also offers counselling and mental health therapy through its 'Cares' programme.
TCS's severance packages aim to provide fair compensation based on service years. The company also ensures support for affected employees through career transition assistance and mental health resources.
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