TCS heads for single-digit raises | business | Hindustan Times
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TCS heads for single-digit raises

business Updated: Nov 30, 2008 20:51 IST
Ruchi Hajela

Hiring, yes. Lay-offs no. But salary hikes next year: only single digits.

Software leader Tata Consultancy Services (TCS) expects to add 12,500 employees by the end of March next year, keeping up with its plans to add 30,000 overall during its current fiscal year. Lay-offs are ruled out despite uncertainties in key Western markets.

However, salary increments are likely to be lower than 10 per cent in hikes due around April next year, against 10 per cent in the last round and 15 per cent in the previous year. “Over 18,500 have already joined us and are on course to meet our recruitment targets of adding over 30,000 people for the fiscal,” said Ajoy Mukherjee, vice-president and human resources head at TCS.

TCS changed tack this year by increasing the targets for entry-level recruitments over experienced ones that come at higher costs. About 71 per cent of new staff in the Apri-September period were fresh graduates, and the overall year’s figure is estimated at 60 per cent.