Tariff toll: TCS defers annual hikes

BENGALURU: TCS’s decision to defer its annual increments, a rare deviation from its April cycle, coincides with clients’ downbeat sentiment emerging from a slowdown and tariff-related uncertainty.
“Due to the uncertain environment, we will decide on wage hikes during the year . We don’t want to set a timeline for ourselves by saying when we will announce it (hikes). However, we said that once we have clarity, we will announce hikes,” said its EVP and CHRO, Milind Lakkad.
TCS rolled out average increments in the range of 7-9% in FY24, down from 10.5% in FY22. TCS was one of the few companies to give a hike in April last fiscal.

For many IT professionals, excluding a select club of top performers, salary increases have moderated to a single digit.