The leading IT company TCS has announced that there will be no salary increase this year for employees completing one year.
Indian IT companies have brought several changes in their policies in budget planning as the fear of economic recession in the US persists. In that regard, there are reports that some companies like Infosys are paying only 70 percent of the salary to the employees and Wipro is paying the salary to its employees late.
In this case, the country’s leading IT company Tata Consultancy Services (TCS) has said in an email sent to its employees:-
‘The TCS rules for first year completers have been changed recently. Accordingly, employees who complete their first year on or after April 1 will not be given a one-year completion certificate or salary increment. The first salary hike cycle will be from next year (2023).
It says so.
Earlier, TCS had informed that there was no delay in payment of salaries to its employees.
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