TCS AGM: TCS bans 6 employees and business associates for violating ethical conduct – Times of India
Tata Consultancy Services (TCS) has banned six employees and six business associate companies for violating ethical conduct. Tata Sons chairperson N Chandrasekaran told the same to shareholders during the company’s Annual General Meeting (AGM). The action comes following whistleblower allegations around a recruitment scandal.
Addressing the 28th Annual General Meeting of the country’s largest IT firm, Chandrasekaran said that TCS will review and tighten its supplier management process to ensure that incidents such as the recent jobs scandal are not repeated. He further emphasised on the need for ethical conduct and integrity among employees. Two complaints about the involvement of TCS executives in the jobs-for-bribes scam were received in February-March and six employees and six firms have been banned, he said.
“The most important thing expected of every employee is ethical conduct and integrity, ahead of any financial performance. So, whenever there is a violation of ethical conduct by any employee, it pains me. All the leaders take it extremely seriously and we will always deal with such incidents with very strong action,” he said. Chandrasekaran added that TCS works with over 1,000 third-party recruitment companies. The RMG division in question handles less than 2-3% of the total hiring requirement.
No recruitment fraud, says company
Earlier in a statement to BSE, TCS denied any recruitment fraud. The recruitment activities in TCS are not handled by the Resource Management Group (RMG) as alleged, therefore the reference to alleged scam in recruitment process is incorrect, TCS said in a statement. “RMG is responsible for allocation of available resources to various projects and incase of any shortfall, fill such requirements through contractors. The complaint referred to in the article relates to hiring of such contract resources employed by the contractors,” the company said in a statement to BSE.
The company further added in the statement that no key managerial person of the company has been found to be involved.
A team of three executives, including TCS chief information security officer Ajit Menon, has reportedly been investigating the whistle-blower complaint. Further, the US complaint is being investigated by an external investigator, he added.
Addressing the 28th Annual General Meeting of the country’s largest IT firm, Chandrasekaran said that TCS will review and tighten its supplier management process to ensure that incidents such as the recent jobs scandal are not repeated. He further emphasised on the need for ethical conduct and integrity among employees. Two complaints about the involvement of TCS executives in the jobs-for-bribes scam were received in February-March and six employees and six firms have been banned, he said.
“The most important thing expected of every employee is ethical conduct and integrity, ahead of any financial performance. So, whenever there is a violation of ethical conduct by any employee, it pains me. All the leaders take it extremely seriously and we will always deal with such incidents with very strong action,” he said. Chandrasekaran added that TCS works with over 1,000 third-party recruitment companies. The RMG division in question handles less than 2-3% of the total hiring requirement.
No recruitment fraud, says company
Earlier in a statement to BSE, TCS denied any recruitment fraud. The recruitment activities in TCS are not handled by the Resource Management Group (RMG) as alleged, therefore the reference to alleged scam in recruitment process is incorrect, TCS said in a statement. “RMG is responsible for allocation of available resources to various projects and incase of any shortfall, fill such requirements through contractors. The complaint referred to in the article relates to hiring of such contract resources employed by the contractors,” the company said in a statement to BSE.
The company further added in the statement that no key managerial person of the company has been found to be involved.
A team of three executives, including TCS chief information security officer Ajit Menon, has reportedly been investigating the whistle-blower complaint. Further, the US complaint is being investigated by an external investigator, he added.
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