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%.

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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.

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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.

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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.