As expected, the slowdown in IT has percolated it's way into India. TCS has asked 500 of it's employees to resign. This move is after cutting 1.5% of all the employees salaries. TCS HR head has moved out to Tata Power. He was believed to be the reason behind low attrition rate at TCS till now. IBM too has laid off around 700 employees according to an unofficial report.
Is this the beginning of an end of Indian IT growth story? Have your say.
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