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Salary Hike: TCS has increased the salary of employees from 4.5 percent to 7 percent. This increase in salary has come into effect from September. The salary of employees who performed well has increased by more than 10 percent.
Salary Hike: Tata Consultancy Services (TCS), the leading IT company of Tata Group, has given a big relief to its employees. The company has announced a salary hike of 4.5 percent to 7 percent for most of the employees. According to the information, the company has started sending letters of increased salary to the employees from late Monday evening. This hike will be effective from September.
TCS had earlier announced layoffs In the last few months, TCS has been in the news for its HR decisions. Earlier, citing uncertain market conditions, the company had announced to postpone the salary hike. After this, layoffs of 2 percent employees (about 12,000 people) were suddenly announced.
However, now the company has decided to increase the salary of 80 percent of the employees, due to which enthusiasm is being seen among the employees. Salary of employees who performed well increased by 10 percent According to media reports, this increase has been given mostly to employees working in lower to mid-level positions.
At the same time, employees who have performed well have also got an increase of more than 10 percent. Experts believe that the company has taken this step to retain employees and handle the situation of falling morale.
In fact, the company had said in the June quarter results that its attrition rate (ratio of employees leaving the job) has increased to 13.8 percent. The official response from the company is yet to come, but the industry believes that this decision is a positive sign for a big company like TCS. This step will also prove to be encouraging for those employees who supported the company despite difficult circumstances.
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