TCG Lifesciences, a leading contract research and manufacturing services company, plans to increase its workforce by 15 per cent in the current fiscal and has released full annual bonus to its employees to boost their morale in the wake of the COVID-19 crisis, an official said on Monday.
The company, promoted by Purnendu Chatterjee Group, has also started the process of the annual performance appraisal for its staffers, he said.
"We have released 100 per cent annual bonus to all our 1,500 employees working in the manufacturing unit in Hyderabad and R&D centre in Kolkata," the official said.
The hiring process has also started, he said.
The company, engaged in the area of drug discovery, has divided the workforce and the work hours into three shifts, complying with all government guidelines and health safety measures, he said.
"We have been swimming against the tide," he said, adding that there has not been a single job cut so far.
"The COVID-19 outbreak has caused havoc not only by its death toll but also shattered the economy in the short term. We were faced with a scenario to completely shut down operations when the lockdown was imposed.
"However, with the support of our board, leadership team and our loyal and committed employees, we were willing to take the risk to continue operations," he said.