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TCS has good news about variable payout to its employees

While competitors like Infosys and Wipro have halted the rollout of variable compensation for employees, whereas TCS will implement raises in Sept.

Maitry Kothari

Updated : Aug 26, 2022, 07:40 PM IST | Edited by : Maitry Kothari

TCS has good news about variable payout to its employees

Tata Consultancy Services (TCS), one of the largest IT firms in India, said on Tuesday that TCS will pay the 100% variable costs to its 6,00,000 plus employees as dividend and bonuses for the June quarter in August. Reportedly, the scheduled time for the payment was July but there has been a delay in the payment.

The variable payout for C3A, C3B, C4, and corresponding grades has been postponed by the Tata Group firm by one month, according to a report from ET on August 20. These workers are at the associate consultant, consultant, and assistant consultant levels. The money owed in July will be paid by the end of August, per an internal email accessed by ET.

The choice was made at a time when Infosys and Wipro, two of its smaller competitors, halted or suspended the rollout of variable compensation for employees due to margin pressure.

It was also reported recently that IT major Wipro also went on to halt its variable costs for a category of its employees. In a statement to ET NOW Wipro said "There is no change to our earlier statement on salary increase, and hikes for our employees will be effective from September 1, 2022. We have also completed the first cycle of quarterly progressions effective July 1, 2022. We have no further comments on the quantum of variable pay.”

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