TCS Announces 4.5%–7% Salary Hike After Laying Off 12,000 Employees

Tata Consultancy Services (TCS) has announced salary increases ranging from 4.5% to 7% for most of its employees. Reports suggest that top performers have received raises exceeding 10%.

TCS Salary Hike

India's largest IT services company, Tata Consultancy Services (TCS), has announced salary increases from 4.5% to 7% for most employees, effective from September.

The company began sending out letters about the raise to employees on Monday evening. No official statement has been released yet.

12,000 Employees Laid Off

Over the past two months, various news reports have circulated about the company. Initially, TCS announced a postponement of salary increases due to market conditions.

Following this, the company announced plans to lay off approximately 12,000 employees, representing 2% of its workforce.

Salary Hike Exceeds 10%

Recent media reports indicate that most eligible employees for this salary increase are in junior and mid-level positions. Top performers have reportedly received raises exceeding 10%.

It's worth noting that the company's attrition rate increased to 13.8% in the June quarter.