Due to the COVID-19 pandemic and subsequent lockdowns, the companies are planning to bring back the work from home policy. Tata Consultancy Services is an Indian multinational information technology services and consulting company based in Mumbai, by the end of 2021, the company asked its workforce to come back to the office with getting done with both the COVID-19 vaccine doses. The company expects 70-80 percent of employees to return to office-based work as the third wave ends up.
TCS, CEO Rajesh Gopinathan told the Economic Times, “We expect that sometime towards the end of the calendar year or early next year, and depending on how this third wave turns out, we will get back to 70-80 percent (of the people) in the office.”
The TCS’ could set a trend in the IT industry as employees get returned to the office as planned. The TCS shifted its workforce to remote work during the COVID-19 pandemic.
“TCS has no plans to utilize its market cap of around $195 billion for acquisitions. The market capitalization of Tata Consultancy Services (TCS) went up by Rs 44,832.5 crore to Rs 14, 20,935.10 crores.” Gopinathan added.
As of September 5, TCS is the most-valued firm after Mukesh Ambani’s Reliance Industries. Nearly 15 percent of shares are being held by TCS in India’s $150 billion software exports and employs approximately one-tenth of India’s 4.6 million IT workforce.
Further Gopianthan told the publication, “We’re just too conservative for today’s market. So our market cap might be high. But still, when it comes to paying out cash, we’re conservative. We like to play like Dravid.”
