TCS to cut variable pay for freshers

 
The company has offered joining letters to 24,885 engineers this financial year. About 15,000 freshers are expected to join during current quarter.

TCS offers approximately around Rs 3.15 lakh as salary for freshers which includes around 19 per cent as performance based variable pay.  “We will entertain offers which we have made to engineers. The variable pay cut will be applicable to all engineers joining this financial year,” TCS HR Head Ajoy Mukherjee said.

No increments

Mukherjee also said that the company has no plans to give increment to its employees this year but have given promotions to employees across all designation. Last year the company had given 10 per cent increment for its employees. The company plans to hire the remaining engineers in the later quarter of current financial year.  The engineers will not be given variable pay for training period of six months. Earlier TCS had extended its training period from from 3 months to 6 months.