TCS discontinues anniversary hikes for laterals, annual appraisal to continue

India’s largest IT services provider by revenue, Tata Consultancy Services (TCS), will not give out one-year anniversary hikes to employees amid pressure on operating margins.

In a formal letter to those employees who had completed a year with the organisation during the current fiscal year, TCS said they would receive their next increment only along with the annual appraisal cycle, which usually takes place in March.

ET has reviewed a copy of the letter.