Bad news for Noel Tata’s TCS employees as company cuts variable pay for many in July-September quarter due to…

Bad news for Noel Tata’s TCS employees as company cuts variable pay for many in July-September quarter due to…

It is not good news for the employees of Tata Consultancy Services, as reports suggest that the company has slashed their variable pay for the July-September quarter, despite employees following the company’s work-from-office policy.

Several employees discovered that their variable pay was slashed for the July-September quarter, despite following the work-from-office policy. Sources familiar with the development said that negative business demand, driven by uncertainty, was a key factor.

According to sources, some employees received 40% of their variable pay for the quarter, while others received no variable pay at all. In comparison, the IT giant had paid 70% of the variable pay for the same quarter last year.

The company’s internal business-unit performance is another factor, in addition to the work-from-office policy. Macroeconomic uncertainty contributed to the company’s growth slowing to single digits, as reported in the Q2 results.

In Q2 FY25, the IT company reported a 5.5% year-on-year revenue growth in constant currency (CC) terms, reaching RS. 64,259 crore.