Mumbai, October 7: Tata Consultancy Services Ltd (TCS), India's biggest IT company on Wednesday announced salary hike for all its employees. The IT major said that the salary hike will be rolled out effective October 1, 2020. According to the company report, the consolidated headcount in TCS is over 4 lakh at  at 4,53,540 as of September 30, 2020. According to reports, Rajesh Gopinathan, MD and CEO of TCS said that the salary hikes for its employees will be worked out in the next few weeks.

In April, soon after the lockdown, TCS had announced that it was freezing salary hikes. According to reports, the employees at TCS logged in 10.2 million learning hours in Q2. This was a whopping increase of 29% increase over the prior quarter, the company announced. Reports inform that over 3,52,000 employees have been trained on multiple new technologies, and over 4,27,000 have been trained on Agile methods. Meanwhile, the IT major said its consolidated revenue for the period rose 3% to Rs 40,135 crore. TCS Q2 Results Show Recovery Vis-a-Vis Last Quarter, Company to Buyback Rs 16,000 Crore Shares.

Milind Lakkad, Global Head, Human Resources of TCS was quoted by Livemint saying that the firm want to thank all TCSers for the incredible resilience they have shown during these trying times. "We are happy to announce that we will be rolling out salary increases, effective October 1st. We started onboarding freshers, and increased our recruitment globally in Q2, in anticipation of the growth trajectory we see ahead", he said.

Earlier this month, TCS had said that it would consider a buyback of shares of the company at a board meeting to be held on October 7. In a filing, TCS said that  Board of Directors will consider a proposal for buyback of equity shares of the company, at its meeting to be held on October 7, 2020.

(The above story first appeared on LatestLY on Oct 07, 2020 08:58 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).