According to sources Indian IT giant Tata Consultancy Services (TCS) was under the radar as company posted Q3 results earlier this week and the employees of TCS were expecting good numbers, apart from market watchers and traders, to enjoy good variance pay. Recently TCS announced 100% variance pay (quarterly) to all the employees on its India payroll.
Moreover as per an official mail from HR team, the Mumbai headquartered company delivered an unanticipated surprise by offering no dent in its variable pay to all the eligible employees of company. Usually IT firms have the habit of giving variable pay based on the performance of individuals and it also varies across business units.
Further amid the growing tensions on layoffs and work visas, this offering by TCS has come down as a big cheer for the employees of Tata group. On other hand, the TCS global head Ajoyendra Mukherjee clarified that employees working outside India are ineligible for the 100% quarterly payroll.