India’s largest information technology services company Tata Consultancy Services (TCS) is going to give a salary hike to most of its employees from next month i.e. September. This information was given by TCS in an internal memo on Wednesday. Earlier, TCS had decided to lay off 12,000 employees, which was strongly opposed by employee organizations. Along with this, TCS had also announced a ban on salary hike, citing the global situation.
80 percent of staff will get a salary increase…
TCS Human Resources Officer Milind Lakdar and CHRO Designate K. Sudeep said in an email sent to employees on Wednesday that the salary hike will be effective from September 1.
TCS has taken this step with the aim of rewarding and retaining talent, at a time when the company has decided to lay off over 12,000 employees as part of its broader strategy to ‘future-proof the organisation’. The company says that for this, the focus will be on investment in technology, deployment of artificial intelligence (AI), market expansion and workforce restructuring.
Relief for employees…
It is worth noting that TCS has a grade structure, which starts with ‘Y’, which is given to the trainee. After this, the company’s staff positions go up to C1, C2, C3, C4, C5, and B and finally to CXO. Last week, market analysts had hinted that the salaries of the remaining employees after the layoffs may be increased. It is believed that other companies may also take a decision on the same lines in the future.
