TCS to give full variable pay to 70 per cent employees in Q2FY23: Report

Tata Consultancy Services (TCS) will pay a 100 per cent variable pay to 70 per cent of its employees in the second quarter of the current financial year (Q2FY23). The IT major’s Chief Human Resources Officer Milind Lakkad made the announcement after the declaration of the company quarterly results, according to a report by Moneycontrol (MC).

“The remaining 30 per cent of employees will be paid [the variable pay] based on the business unit performance,” Lakkad said, as reported by MC.

In Q2FY23, TCS saw an 8 per cent year-on-year (YoY) jump in its net profit at Rs 10,465 crore, beating estimates. The revenue rose 18 per cent YoY to Rs 55,309 crore.