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Tata Consultancy Services today said there will be no job loss due to consolidation of its operations in Uttar Pradesh even as state ministers Swami Prasad Maurya and Mohsin Raza assured the employees that their interests would be protected.
"There have been false rumours and reports being circulated in the media about the company's operations in Lucknow. TCS would like to clarify that it is only consolidating its UP operations in Noida and there will be no job loss as a consequence," a TCS spokesperson said in a statement.
"TCS is working to ensure that employees get opportunities in Noida and other centres across India," the statement said in the wake of media reports that TCS staff claimed they were informed by their team leaders and senior officials that the company is wrapping up the work at the Lucknow unit.
Maurya, who is state labour and employment minister, said if necessary negotiations would be held to protect the interest of at least 2,000 employees.
Raza said if needed he was ready to speak to the TCS management and the employees to find a way out.
Meanwhile, TCS today reported a 5.9 per cent decline in its consolidated net profit to Rs 5,945 crore for the April-June quarter, hit by currency volatility.
TCS CEO and MD Rajesh Gopinathan said the company has seen steady growth across industries in the first quarter of the fiscal.
Tata Consultancy Services added 11,202 (gross) employees during the quarter under review, taking its total headcount to over 3.85 lakh.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)