TCS Employees working from home during the Covid-19 lockdown was not a cost-saving instead of added additional expenses.
During the Annual AGM meeting held virtually, Tata Sons chairman N Chandrasekaran mentioned that the national lockdown had happened suddenly, and TCS had to act immediately. TCS has already signed long-term leases for its offices.
Chandrasekaran also pointed out that the new operating model called Secure Borderless Workspaces (SBWS) provides the ability to work remotely with security controls. However, he emphasized that it is all investment and more expenses for now, and TCS will keep an eye on trends for required investment for future WFH arrangments.
Chandrasekaran said- There are no plans of acquisition at this stage just because there may be opportunities from the cheap valuations of the smaller firms. The company will follow standard protocol to acquire companies that will add value to the Tata group.
Chandrasekaran assured investors that TCS had had secure deal closures during the last quarter, especially “Around 49 customers spend more than $100 million a year with us,” he said.
He did not forget to mention that more then ~3 lakh TCS employees were trained on “Agile” technologies and digital technologies.
Surely Covid-19 has changed the way we all worked in the past; however, time will tell if we will ever come back to Business As Usual ‘BAU’ mode. Till then, work hard, stay safe, and spend time with your family
Source of this news: TCS AGM meeting