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TCS presses pause on salary hikes; plans to hire 42,000 engineers from campuses in FY26
TCS will continue with quarterly variable payouts. According to the filings, 70% of employees will receive 100% variable pay in the Q4 FY25 while the remaining will be based on the business performance
The attrition rate of TCS has increased to 13.3% in the last 12 months
Tata Consultancy Services (TCS) has announced to defer salary hikes for employees starting April due to global macroeconomic uncertainty amid the tariff war between the US and other countries.
However, the company assured that once there's greater clarity and the global outlook improves, the salary hikes will be implemented.
During the Q4 fiscal year 2025, Milind Lakkad, chief human resources officer of TCS said, "We will decide during the year when to make the wage hike".
However, TCS will continue with quarterly variable payouts. According to the filings, 70% of employees will receive 100% variable pay in the Q4 FY25 while the remaining will be based on the business performance.
Further, the IT service giant plans to hire 42,000 engineers from the campuses in the fiscal year 2025-26. During the Q4, the company added 625 employees and its headcount rose to 6,433 for the fiscal year 2025.
However, the attrition rate of TCS has increased to 13.3% in the last 12 months.
Separately, TCS has named a new chief operating officer (COO) Aarthi Subramanian, nearly a year after the retirement of NG Subramaniam.
Aarthi Subramanian, formerly chief digital officer at Tata Sons, will also take over as president of TCS for a five-year term beginning May 1.
TCS also appointed Mangesh Sathe as chief strategy officer. He will lead the global consulting practice and oversee mergers and acquisitions.
Meanwhile, during the Q4 earnings, TCS' consolidated profit witnessed a marginal drop of 1.67% to Rs 12,293 crore in the January-March quarter. On the other hand, TCS's standalone profit for Q4 FY25 stood at Rs 11,116 crore.
The IT service firm's revenue for the quarter increased by 5.3% to Rs 64,479 crore, driven by regional markets(+22.5%), ERU (4.6%), and BFSI (+2.5%) YoY, respectively.
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