TCS to dole out a second salary hike within a span six months
Mar 19, 2021, 18:01 IST
- Tata Consultancy Services (TCS) has announced a second salary hike for its employees within a span of six months.
- Last year in October, the IT major increased salaries by 6% to 8%.
- This time around the company plant to hike wages by the same amount resulting in a cumulative boost of 12% to 14%.
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India’s biggest information technology (IT) services company, Tata Consultancy Services (TCS), is set to dole out a second round of increments for its employees within a span of six months. The last salary hike was announced by the IT major in October last year, where the increase in wages was between 6% to 8%.
Sources told Business Insider, on the condition of anonymity, that the salary increments will be around the same this time around as well. This means employees will have received a cumulative boost of around 12% to 14%.
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This comes after TCS’ attrition rate dropped to a record low of 7.6%, as of 31 December 2020. The company currently has 4,69,261 employees under its wing after adding 15,000 more to its roster between the months of September to December.
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Despite the challenges caused by the COVID-19 pandemic, TCS reported its strongest Q3 growth in nine years in 2020.
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