TCS restructures package for freshers

TCS restructures package for freshers
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First Published: Tue, Sep 15 2009. 11 38 PM IST
Updated: Tue, Sep 15 2009. 11 38 PM IST
Bangalore: Tata Consultancy Services Ltd (TCS) has announced a restructuring in the pay package for its recruits from engineering campuses for this fiscal. The new joiness will not be eligible for the variable component during the first 6 months of training.
Campus hires were initially given a pay pacakage of Rs315,000 with the variable component of Rs 5,000 every month. The variable component which was earlier available from day one will now be available only after 6-months training period. While the move will bring in savings, it is meant to bring in a behavioural change towards a performance oriented culture, said Ajoy Mukherjee, head-HR at TCS over a teleconference with the media held on Tuesday.
This move will first apply to the 1,500 freshers who will joining the company in the current quarter and a total of 18,000 students who are expected to be absorbed by end of the fiscal. TCS may continue or discontinue this practice in the future, said Mukerjee. Reeling under the global economic crisis, technology companies have been staggering the joining dates of freshers as business requirements and the need for fresh hands reduced.
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First Published: Tue, Sep 15 2009. 11 38 PM IST
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