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TCS rolls out salary increments from October, hires 16,000 in July-September

TCS is rolling out salary increments effective October and details of which are being worked out. These increases would be applicable across the job bands

October 08, 2020 / 03:41 PM IST

India’s largest IT services major, Tata Consultancy Services (TCS), hired close to 16,000 people in the September quarter (Q2) and will roll out salary increases from October, said Chief Executive Officer Rajesh Gopinathan.

This comes after the company reported one of its best performances for the quarter ended September 2020. The company reported a revenue of $5.24 billion, up 7.2 percent quarter-on-quarter (QoQ) and  down 1.7 percent year-on-year (YoY).

According to Gopinathan, the growth TCS saw in the quarter was a pleasant surprise given that the company had said in Q1 that they expect recovery from Q3. The growth was aided by increasing investment in digital, which the company was able to tap into.

The company reported deals worth $8.6 billion, including $2 billion deal from Phoenix group. TCS expects the demand recovery to be sustainable in the coming quarters as well.