TCS to cut variable pay of 70,000 employees

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Kolkata, Oct 14: In an attempt to cope up with the ongoing economic crisis, Tata Consultancy Services (TCS) has taken a decision of cutting down variable pay of its employees. During the 2008-09 quarterly results, TCS took the decision of cutting down the variable pay of its employees. The percentage of the reduction is still not decided. Around 70,000 employees will have a cut in their variable pay.

TCS would decide on the percentage of reduction after the Q2 results are announced. The variable pay of the company is divided into two parts, the fixed component (on monthly basis) and a changeable proportion which alters depending on the performance of the company on quarterly results.

For instance: If Rs 6000 is the variable pay, then Rs 5400 is the fixed component and Rs 600 depends on the quarterly results of the company.

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