Tata Consultancy Services (TCS) to rollout salary hikes for FY22

TCS will hand out across the board salary benefits for salary hikes for all employees for FY21 in October last year. The salary hike roll-out will benefit nearly 4.7 lakh employees of the company.

Tata Consultancy Services (TCS) spokesperson confirmed that the company is on track to give increments to all associates across Geographic’s effective April 2021. The company would be the second salary hike within six months by TCS.

TCS was the first IT services company to announce a salary hike for all employees for FY21 in October last year, The source noted that the Mumbai-headquarter IT firm had given out a salary hike in line with industry norms in FY21.

The salary hike announcement by the company marks a return to normal increment cycle, market watches added, TCS had earlier reported a 7.2 percent jump in December quarter net profit to Rs 8,701 crore. The company had noted a 5.4 percent growth in revenue at Rs 42, 015 crores.

India’s information technology companies are expected to return to pre-pandemic growth levels in the last three months ended March 31, on the back of huge demand and large deals have signed in the previous two quarters. According to Accenture Plc has raised its revenue forecast for its fiscal ending Aug 31 also well for the domestic software services industry.

TCS spokesperson said, “We are extremely thankful to all or associates for demonstrating resilience, adaptability, and an innovative mindset to steer the company in these pandemic times.