Variable Pay at TCS – victim of financial crisis

TCS has just inked a contract with the Ministry of External Affairs to manage issue of passports. It has also acquired Citigroup Global Services in an all cash deal for $505 million, adding to it’s headcount by around 12,500 Citi employees.

On the HR front, however, there has been a lot of action, which began with firing 20 employees with faked resumes, followed by the company’s decision to postpone promotions. And now, what employees believe to be the unkindest cut of all – reduction in variable pay.

Read on…