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TCS & IT companies delay onboarding of freshers, cut variable pay

By | Sheenu Pradhan |

According to the reports to Business Today, IT companies including TCS, Wipro, and many others are facing an economic slowdown.

The report also suggests that IT companies may still delay the onboarding of freshers candidates. The report also suggested that as far as the variable payouts are concerned they have been dull to date in FY23 as compared to FY22.

However, TCS said in the month of Jan 2023 that it will hire 1.25 lakh to 1.5 lakh employees in the financial year 2023-24 (FY24). In Q4FY23, the company reported a decline of 2,197 people in its employee base. However, there are no layoffs in the organization.

According to media reports, TCS employees might witness variable pay cuts and they might also delay the onboarding of freshers.

Sriram Venkat, an HR firm associate told Business Today that the IT tech companies in the country would announce some variable pay cuts in Q4 FY23. He claimed that the employees who are in the lower band won’t be impacted by a big margin and it could range between 85 to 100 percent at large-cap IT companies.

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