Mega Bonus for TCS Employees
NEW DELHI: Tata Consultancy Services on Thursday said it will give one-time bonus to all eligible employees to mark the 10th anniversary of its initial public offer or IPO. India’s biggest outsourcer will give one week’s salary for every year of service rendered, a move that will cost the company $423 million or Rs 2,628 crore.
Employees who have completed at least one year in service will be eligible to receive the one-time bonus, TCS said. TCS employs 3.19 lakh consultants worldwide.
For the company, the total consideration for this special reward will be Rs 2,628 crore, it added.Globally, all employees who have completed at least one year of service will be eligible for the special bonus payment. The company had 3.18 lakh employees as of October- December, 2014 quarter.
Each employee will be given a reward equivalent to one week’s salary for every year of service completed at TCS, it added.
“Today, we act as a strategic partner to many global customers and TCSers are well-known for their ability to execute, innovate and provide leadership in the customer?s context,” TCS CEO and Managing Director N Chandrasekaran said.
This Special Reward to employees acknowledges the role the employees have played in building TCS into one of the most respected and valued technology services companies in the world, he added.
TCS went public in August 2004 listing its shares on the Bombay Stock Exchange and the National Stock Exchange.It has since become the company with the highest market capitalisation in the Indian stock market.The Mumbai-based firm will announce its financial results for the fourth quarter and fiscal ended March 31, 2015 in the evening today.
