India’s largest IT services company, Tata Consultancy Services (TCS), will increase the salaries of most of its employees starting next month, i.e. from September.
This information was shared in an internal memo sent by TCS on Wednesday.
Earlier, the company had faced criticism for its decision to lay off around 12,000 employees.
At that time, TCS had also announced a freeze on salary hikes due to global uncertainties.
80% of Employees to Get a Salary Increase
TCS Chief Human Resource Officer Milind Lakkad and CHRO Designate K. Sudeep informed employees via email that the salary increment will take effect from September 1.
The company stated that this move aims to reward and retain skilled employees, especially during a period when it is laying off a large number of staff.
The layoffs are part of a broader plan to make the company “future-ready” by focusing on areas like advanced technology, artificial intelligence (AI), market growth, and workforce restructuring.
Positive Sign for Employees
TCS follows a grade structure that starts at ‘Y’ for trainees and moves upward through levels such as C1 to C5, B, and finally CXO.
Last week, market analysts had suggested that employees who remain with the company after the layoffs might receive a salary increase.
It is also expected that other companies may adopt a similar approach in the near future.
