Tata Teleservices Soon To Shut Down and Layoff 5,000 Staff

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Tata Teleservices soon to shut down 5000 members. Tata Teleservices, the telecom unit of Tata Sons has informed the government that the company will soon shut down its services. Tata is one one the oldest in the telecom industry with 21 years in phone services venture.

The transfer may only happen if there’s a nice set of skills needed in other firms that may match with those of employees in the telecom unit. There may be voluntary retirement schemes for the senior employees above a particular age that will be rolled out in the next few months, said a senior official in the Tata Group.

There are important things but some are urgent. Like Tata Teleservices. It needs urgent attention he said. If Tata Teleservices has to be revived and it has to stay in the game it would require a commitment of another Rs 50,000 crore to Rs 60,000 crore, he said in the interview. Circles heads of Tata Teleservices whose resumes we are placing have been given time until March 31 and were told of this in September.

If they leave now, they will be given the salary for the remaining months of this financial year, said Kris Lakshmikanth, chairman of search firm Headhunters India. Tata Teleservices did not respond to ET’s queries till the time of going to press. According to an ET report published last Saturday, the Tata Group informed the government that it plans to shut its wireless business, and will start the process in a month.

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