Finally, there is some good news for employees of Tata Consultancy Services (TCS). The Indian multinational that has been in the news for announcing the layoff of 12,000 employees and making its workforce anxious, has now announced that 80 per cent of its employees will be receiving pay hikes starting 1 September.
It is reported that Milind Lakkad, CHRO, TCS, and K Sudeep, CHRO designate, TCS, sent an official mail announcing the pay revision. The company is yet to officially reveal the details of the increment, the fact that increments will come into effect from 1 September has been confirmed.
On 30 July, TCS had decided to freeze hiring close on the heels of the announcement of layoff of two per cent of its global workforce. To add to the anxiety, the company had at the time also decided to put a pause to annual salary increments, globally.
These announcements had come while the buzz around the company’s bench policy was still on. Many on the bench are being phased out across offices in Pune, Chennai, Kolkata and Hyderabad following its policy that made it mandatory for employees to seek out projects on their own in 35 days or depart.
There is a new hiring model in place too. To make its hiring process more transparent, TCS has recently engaged a US-based firm to handle its third-party staffing vendors. This firm will serve as a link between the vendors and the company eliminating any opportunity for direct contact with TCS.
