TCS to give salary hike in April

MUMBAI, INDIA: Tata Consultancy Services Limited (TCS), India's largest software exporter by revenues, will announce a salary hike in April, a top executive of the company said today.

"We will announce a salary hike in April,” TCS chief financial officer S. Mahalingam told reporters on the sidelines of CII-IFRS summit here today. However, he did not provide any further detail about the quantum of the salary hike.

Mahalingam also said TCS is on track of completing the hiring process for the current fiscal year, and in the financial year 2010-11 the hiring would be to the tune of 30,000 as announced earlier and the company would finalize the process very soon.

The TCS CFO also told reporters that the growth momentum in the last quarter of this fiscal would be better than the previous quarter and that the entire IT industry would see an improvement in the deal pipeline. He also said TCS isn't seeing any rise in staff departures.