TCS Rolls Out Employee Pay Hikes Amid Workforce Shifts
TCS, India's largest IT firm, announced salary increases ranging from 4.5% to 7% for most employees. Starting in September, these increments follow deferred pay hikes and a 2% workforce reduction. Top performers received over 10% raises, coinciding with a reported 13.8% attrition rate.
- Country:
- India
Tata Consultancy Services (TCS), the leading IT services provider in India, has announced salary hikes between 4.5% and 7% for the majority of its employees, according to insider sources. The salary increments have been communicated to employees starting late Monday, with adjustments taking effect from September.
This development comes on the heels of several HR-related headlines over recent months, beginning with a decision to delay pay raises due to uncertain market conditions. Shortly thereafter, TCS announced a 2% reduction in its workforce—affecting roughly 12,000 employees—before revealing the current salary hikes that will benefit 80% of its personnel.
The raises predominantly target employees at lower to mid-level positions, while the top performers reportedly received pay increases exceeding 10%. During its latest earnings report for June, TCS highlighted a slight rise in attrition, which reached 13.8%.
(With inputs from agencies.)
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