TCS Variable Pay Latest News: Dismissing reports which claimed that Tata Consultancy Services (TCS) delayed the June variable compensation payout by a month for a section of its employees, the country’s largest information technology (IT) firm asserted that it will pay out 100% variable pay for its 600,000 plus staff.
Earlier last week, it was reported that the Tata Group company has delayed the variable payout for C3A, C3B, C4, and equivalent grades by a month. An internal email accessed by ET asserted that the money due to be paid ( in July) to employees at the assistant consultant, associate consultant, and consultant levels will be paid by August-end.
“We have come across completely incorrect reports on our compensation. Variable pay is either paid in month one or month 2 as per the normal process and there is no delay in this process. 100% VA is being paid for Q1,” a statement released by TCS read.
Reports had also claimed that Infosys made changes to its variable payouts for the first quarter of FY23. The Bengaluru-based IT bellwether has reportedly reduced the average variable compensation of employees to around 70 percent for the June quarter due to margin squeeze and high employee expenditures, according to sources.
Similarly, Wipro als0 delayed variable pay for employees due to margin pressure, inefficiencies in its talent supply chain, and investment in technology.
