7 Jul 2023 , 12:43 PM
Tata Steel, a subsidiary of the Tata Group, has terminated the employment of 35 individuals for breaching the company’s code of conduct.
The decision comes in the wake of the recent bribes-for-jobs scandal that involved Tata Consultancy Services (TCS), another Tata Group company.
N. Chandrasekaran, Chairman of Tata Steel, confirmed that a total of 38 people faced disciplinary action, with 35 being fired for engaging in practices that were deemed unacceptable and ethically questionable.
Additionally, three individuals were dismissed due to instances of sexual misconduct. At Tata Steel’s annual general meeting, Chandrasekaran emphasized the company’s commitment to promoting an open culture where employees can freely express their concerns.
He highlighted that the company encourages employees to report grievances related to sexual harassment or any other observed practices within the organization. In the last fiscal year, Tata Steel received 875 complaints, with 158 related to whistleblowing, 48 concerning safety issues, and 669 involving HR and behavioral matters.
Chandrasekaran reiterated Tata Steel’s dedication to maintaining the highest values and implementing a zero-tolerance policy. The actions taken by Tata Steel reflect the company’s commitment to upholding integrity and ethical practices across its subsidiaries.
The Tata Group’s emphasis on transparency and accountability sets an example for other organizations.
For feedback and suggestions, write to us at editorial@iifl.com
Related Tags
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.