Mumbai, April 14: Tata Consultancy Services (TCS) Chief HR Officer Milind Lakkad has announced that it will offer double digital salary hikes to the employees. TCS salary hikes have been regularly given to the top-performing employees every year. The IT company announces an annual increment to the workforce as it observes growth and development. The TCS Chief HR Officer Milind Lakkad said in a press release about the salary hikes to the company employees.

The Chief HR Officer said, ". The reduced attrition at 12.5%, enthusiastic response to our campus hiring, increased customer visits and employees returning to the office have resulted in great vibrancy in our delivery centres and elevated morale of our associates." According to Milind Lakkad, the top-performing employees will receive double-digit hikes. In contrast, others will have salary increments ranging from 4.5% to 7% as per their performance, said the Times of India report.  Work From Home 2024: From Amazon to Google and Meta, Top Ten Companies That Revoked WFH Policy and Adopted Work From Office and Hybrid Work Policy.

TCS Salary Hike 2024 Announcement: 

TCS reportedly aimed to hire more than 40,000 freshers starting in 2024. During the last quarter of the fiscal year, the Indian IT company witnessed slowed hiring, leading to a dropped headcount of 1,759, followed by a decline of 5,680 employees in the third quarter. According to the report, Tata Consultancy Services said that N. Ganapathy Subramaniam, TCS's chief operating officer, will retire soon after giving 40 years to the company. TCS will reportedly wait to hire and fill in the COO role after his retirement. Tesla Considering Layoffs? Employees Fear Job Cuts at Austin Gigafactory and Fremont Factory.

The report highlighted that the Indian IT company TCS had consistently decreased employees during recent quarters and also witnessed a 6,333 headcount drop in the second quarter of the fiscal year. However, addressing growth and headcount, TCS chief executive K. Krithivasan said that both are not directly correlated and that the company would focus on two things—efficiency and optimised deployment of the associates. He reportedly added that the company would take six to nine months to train processors to hire new people before deployment. 

(The above story first appeared on LatestLY on Apr 14, 2024 04:14 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).