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TCS announces salary increment for all employees, second in six months

By Saima Siddiqui 
Updated Date
TCS announces salary increment for all employees, second in six months

Mumbai: India’s largest multinational technology firm, Tata Consultancy Services (TCS), on Friday, announced salary hikes for all its employees. The salary hike would come into effect from April 1, the company spokesperson said.

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“We can confirm that we are on track to give increments to all associates across our geographies effective April 2021, in line with our benchmarks.”

“We are extremely thankful to all our associates for demonstrating resilience, adaptability, and an innovative mindset to steer the company in these trying times. This step is a reflection of our steadfast commitment to our associates,” the spokesperson further added.

This would be the second salary hike which the company would implement within a span of six months. The previous pay increment cycle was delayed due to the outbreak of COVID-19 pandemic in March last year.

TCS has become the first IT Services company to announce increment for FY22. The Mumbai- based major IT services company has more than 4 lakh employees who will be benefitted from company’s decision.

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Sources said that the IT behemoth had given out salary hike in line with industry norms In FY21 despite uncertainty due to outspread of pandemic and it will continues to offer promotions as per the regular promotion cycle.

According to reports, “With FY22 salary hike TCS Employees will get around 12-14% average increment in six months time.

The software service giant had reported 7% increase in net profit for the quarter ending December 31, 2020 at ₹8,701 crore. The company reportedly benefited from greater demand for its cloud services during the COVID-19 pandemic.

Talking about this the TCS had said this is the strongest December quarter growth in nine years.

“Growing demand for core transformation services and strong revenue conversion from earlier deals have driven a powerful momentum that helped us overcome seasonal headwinds and post one of our best performances in a December quarter,” Rajesh Gopinathan, chief executive officer and managing director at TCS, said.

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Company’s growing value could also be seen on BSE index as company’s scrip closed nearly 0.60% higher at Rs3,054.80 on Friday.

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