{"id":133505,"date":"2023-07-13T09:39:05","date_gmt":"2023-07-13T09:39:05","guid":{"rendered":"https:\/\/fin2me.com\/?p=133505"},"modified":"2023-07-13T09:39:05","modified_gmt":"2023-07-13T09:39:05","slug":"infosys-hcltech-put-off-pay-hikes-for-employees-tcs-bucks-trend","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/infosys-hcltech-put-off-pay-hikes-for-employees-tcs-bucks-trend\/","title":{"rendered":"Infosys, HCLTech put off pay hikes for employees; TCS bucks trend"},"content":{"rendered":"

Two top IT majors have deferred salary hikes for employees amid the ongoing slowdown in the sector as clients are cutting discretionary spending.<\/p>\n

<\/p>\n

Infosys has reportedly decided to defer salary hikes for all its employees below the senior management level that are otherwise rolled out from April every year.<\/p>\n

According to a Moneycontrol report, multiple employees have confirmed that they have not received their pay hike due for the June quarter.<\/p>\n

The report further stated that they have also received no intimation on the delay or when they are likely to receive their pay increases.<\/p>\n

Infosys typically rolls out hikes for its senior management in July, but so far, they have not received any communication on the matter, the report said.<\/p>\n

HCLTech, too, has deferred salary hikes for their employees by one quarter.<\/p>\n

“In the past couple of years, the hiring that we have done and the compensation revision that we have done…we have taken that into consideration and taken a decision to defer our annual salary review by a quarter,” said Ramachandran Sundararajan, chief people officer, HCLTech.<\/p>\n

On the contrary, Tata Consultancy Services (TCS), India’s largest IT services firm, has gone ahead and rolled out its annual salary increase with effect from April 1, 2023, taking a 200-basis point hit on its operating margins.<\/p>\n

TCS has rolled out an average hike of 6-8 per cent, while high performers and exceptional performers have received hikes in the range of 8-10 per cent and 12-15 per cent, respectively.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Two top IT majors have deferred salary hikes for employees amid the ongoing slowdown in the sector as clients are cutting discretionary spending. 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