TCS Faces Double Blow: Market Value Plummets as Salary Hikes Hit Rock Bottom

Tata Consultancy Services (TCS) is grappling with a dual setback as it approaches its annual salary review. The IT giant has suffered a staggering loss of Rs 109,211 crore in market value over the past month, with Rs 53,185 crore wiped out in a single week. This comes as TCS prepares to announce its lowest salary hikes in four years, with increments expected to range between 4-8%. The company's market cap now stands at Rs 13.7 lakh crore, reflecting a 2.82% drop in share prices. TCS has also linked salary hikes to compliance with its return-to-office policy, further impacting employee compensation. This financial turbulence could significantly affect the upcoming salary revisions, scheduled for March 2025.

Sources: The Economic Times, India.com, DNA India