No salary hike for TCS employees this year, no firing either

New Delhi : One of the largest Indian software exporters TCS has announced that they have no plans to lay off any of the employee amid coronavirus pandemic, but to balance the financial losses, the company will not be giving any salary hike this year.

The Tata group company said it will honour each of its commitments on new hires by taking all the 40,000 people who have been given offers on board, unlike some other blue-chip companies that are reportedly having a relook.

The company has managed to hit healthy profits in March after difficult times in first two quarters of the current fiscal due to coronavirus crisis, including a revenue contraction.

"Every offer that we have made will be honoured. We do not see any retrenchments," TCS MD and CEO Rajesh Gopinathan told reporters over a call.

Head of Human Resources, Milind Lakkad elaborated the move and claimed that all 40,000 offers made to people including freshers will be taken onboard as the year progresses.

Typically, colleges and universities will be on till June, and then the students will start joining, he added.

He also mentioned that while the company stands by the government and is not laying off any employee, it will not be giving salary hike this year.

"We have decided not to give any salary hikes this time," he said.