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Tata Consultancy Services has announced salary hikes of 4.5–7% for most employees
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Increment letters were sent starting late Monday, effective from September
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TCS reported a 13.8% attrition rate in the June quarter and denied 30,000 layoff claims
Mumbai, Sep 2 (PTI) Country's largest IT services company TCS has rolled out salary hikes in the range of 4.5–7% for a majority of its employees, sources said on Tuesday.
The Tata group company has started sending the letters of increment to the employees from late Monday evening, and the increments will be applicable from September, they said.
An official response to an email query sent to the company was awaited.
It can be noted that there has been a slew of headlines on the Human Resources front over the last two months, starting with an announcement to defer pay hikes amid hazy market conditions.
This was followed up with a surprise announcement to axe 2 per cent of the workforce, or around 12,000 employees, and then came an announcement of pay hikes for 80 per cent of the employees.
As per media reports, most of the employees eligible for the hike were in the lower to mid levels of the hierarchy.
The sources said the top performers have been given pay hikes of over 10 per cent as well.
The company had reported an inching up of the attrition rate in its June quarter earnings at 13.8%.
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