TCS CEO and MD N Chandrasekaran said that the company will hike salaries of its employees in the coming fiscal, but did not give details, reports Financial Chronicle. TCS, has not hiked wages in the current fiscal, but employees have received 150 percent VA payouts in two consecutive quarters – second and third quarters of FY10.
“We are on a path to hire 1,000 people. We have already hired 300,” he said, replying to a query on hiring plans for the current fiscal. In Q3 of FY10, TCS had made 7,692 net additions, compared with a net addition of 320 in the previous quarter.
Asked about the extent to which India would be affected by the U.S. move to slash tax-breaks to outsourcers, Chandrasekaran said the matter is not an immediate concern. Also Chandrasekaran said, “China is a tough market for IT firms and the company was seeing business opportunity in Europe.” Chandrasekaran said the company had signed a few large deals as well as a number of smaller ones. “The financial services sector will drive growth. We expect good growth from retail, pharma and utilities,” he said.