By reducing the office-going workforce to 25 per cent by 2025, TCS looks to use the vacant real estate space to house its laboratories and Research and Development (R&D) facilities, besides using it as modern-day workplaces for its employees. The IT bellwether, which has 4.5 lakh employees, will have a hybrid model and it means people will work remotely and virtually as well as in a office environment, said V Ramakrishnan, Chief Financial Officer of TCS.
Real estate will continue to be relevant for TCS, he said. “We are saying that in few years’ time we believe that not more than 25 per cent of a person’s time has to be spent in offices or not more than 25 per cent of people will be required in office at a particular time. It does not mean that somebody does not have to go to the office, everyone will go to the office but not for the same length of timeframe. They will be able to work remotely and virtually,” he said. Read more…..
Chart of the Day
Goldman Sachs, the Wall Street investment bank, has a storied history. Founded by Marcus Goldman 150 years ago, his son Henry revolutionized the industry with company valuations and IPOs.