Amid improving business environment, Tata Consultancy Services has announced salary hikes for all its employees.
“We can confirm that we are on track to give increments to all associates across our geographies effective April 2021, in line with our benchmarks. We are extremely thankful to all our associates for demonstrating resilience, adaptability, and an innovative mindset to steer the company in these trying times. This step is a reflection of our steadfast commitment to our associates,” TCS said in a statement.
This is the second pay hike by TCS in the last six months. TCS had earlier said that it has rolled out salary increases with effect from October 1.
Other IT services companies, including Infosys and HCL Tech, had also announced hike in salaries from January. IT companies have seen an uptick in demand for their services, which has resulted in the salary hikes.
TCS reported 7per cent increase in net profit for the quarter ending 31 December, 2020 at ₹8,701 crore. While TCS did not quantify the increase in pay, sources indicated that it could be in the 12-14 per cent range.