TCS on Friday said it is undertaking a performance-based workforce restructuring, but it is not a "retrenchment" exercise and the company may exceed its target of hiring 55,000 new professionals this fiscal.
Without giving any specific numbers for employees to be affected by this "continuous" restructuring process, the HR head of the country's largest software exporter also said that "it is not that everyone being relieved is a bad performer."
"It is not a special process. It is a continuous process," TCS EVP & Head - Global HR Ajoyendra Mukherjee told reporters.
His comments follow reports about TCS undertaking a significant performance-related restructuring of its workforce, which may also lead to some employees being asked to leave the company.
Downplaying it as a "regular exercise", Mukherjee also said that the company was on track to meet its gross hiring target of 55,000 employees in the current fiscal ending March 31, 2015, and may even exceed it.