If all goes according to the script, a Tata Consultancy Services employee who has served the company for over 30 years will get 46,840 TCS shares on September 28, 2004. Or, as per current value of the TCS share, a Rs 4.63 crore (Rs 46.3 million) bonanza.
All in all, TCS will have 29 crorepati, 424 millionaire and 541 lakhpati employees in its ranks on September 28, 2004, when it will announce the results of a ballot circulated among shareholders to seek their consent to an Employee Share Purchase Scheme.--------- A news item published on REDIFF portal dated 10/09/2004
http://in.rediff.com/money/2004/sep/10tcs.htm
I did not think it would generate a great deal of interest in employees to discuss on this decision. But, I am surprised to see that this has become a subject to debate on every break. I don't think we are breaking to debate this. I see the same subject in canteen, corridors, lifts and elevators.. Having heard lot of people, I have not rolled back my insignificant support of this action by the board.
The board has to make sure that the shareholders are valued and at the same time reward the people who contributed to build this very conglomerate from scratch. It isn't an easy task when INDIA was not positioned in global arena. Few argue that these 29 are already crorepatis so why make them richer. They deserve to become richer. They are responsible for what this organisation has achieved. When we have 30000 around us, we complain of sacrifices that are made. With 10 or 15 odd, what sacrifices they would have made to build this phenominal company. HATS OFF!! Undoutedly, you deserve to be rewarded just not stocks but more.
September 10, 2004
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