After Stake Sale, TCS To Offer 7-8% Salary Hike To Offsite Employees: Report

After Stake Sale, TCS To Offer 7-8% Salary Hike To Offsite Employees: Report

This development come at the back of another pay-related development, that came to light at the beginning of the week.

Juviraj AnchilUpdated: Wednesday, March 20, 2024, 11:49 AM IST
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After suffering a slump in its share prices on Tuesday, after the news of sale of stakes in the IT giant by parent company Tata Sons came to light, a new development has come to light. According to reports, one of the country's leading tech company is likely to offer a 7-8 per cent average hike in salary to offsite employees.

In addition the firm is also expected to a give an average salary hike of 2-4 per cent to onset employees.

This development come at the back of another pay-related development, that came to light at the beginning of the week, when TCS in attempt to attract senior professional into the company, offered lucrative sops to individual, who were to join the company early.

Tata Sons Sells Stake

The shares of the company slipped over 3 per cent on Tuesday, after reports emerged, that its parent company Tata Sons sold stakes worth over Rs 9,000 crore in the tech firm.

These steps, including sops to senior professionals and now a average salary hike to both offsite and onsite employees indicate attempts to stabilize the perceived volatility and reinforce its ranks particularly employees working form far off.

As of Wednesday, the shares of the company are trading green, up by 0.80 per cent, reaching the 4,000 mark in the process.

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