TCS Grants Full Q1 Variable Pay to Majority of Workforce

Tata Consultancy Services has told employees it will pay 100% of the quarterly variable allowance for the April–June period to staff up to grade C2, covering more than 70% of its 613,069-strong workforce. Workers in higher grades will receive payouts linked to the performance of their business units, according to an internal email from Chief Human Resources Officer Milind Lakkad seen by Indian media outlets. The decision marks a modest boost for staff as the IT services company weighs whether to proceed with its annual salary hikes. Management said no final decision has been taken on pay raises, citing a weak macro environment that has contributed to a fall in dollar revenue for three consecutive quarters. TCS added 5,060 employees in the June quarter, remaining India’s largest private-sector employer.