Employees received only 5-10 % hike but top Tata managers like Noel Tata, N Chandrasekaran, Krithivasan received massive hikes upto 343% and Rs 156 crores, details here
New Delhi: In a significant development after TCS announced a massive layoff of 12,000 employees, several media reports are talking about the significant hikes that the senior level management employees have received. As per a report by IANS quoting TCS's annual report for FY25, Information Technology giant Tata Consultancy Services (TCS) CEO K. Krithivasan received a total annual compensation of Rs 26.5 crore, after a 4.6 per cent increase from the previous year.
The report also declares that Krithivasan's salary comprised a base salary of Rs 1.39 crore, alongside Rs 2.12 crore in benefits, perquisites, and allowances, as well as Rs 23 crore in commission, according to the latest annual report. How much salary hikes did TCS top-level managers receive?
Netizens and IT employees were irked that his pay was 329.8 times the median employee salary.
Praveen Chakravarty, a netizen, posted on X: 'TCS CEO pay: Rs 35 cr; Top 5 leadership: Rs 40 cr; Avg employee: Rs 15 lakh. If top 100 took small pay cuts, it can save 12,000 jobs. Their lives won't be terrible at Rs 2.5 cr pay vs Rs 3 cr. For 12,000 families, lives will be miserable at 0 pay vs Rs 15 lakh. AI is real; mass layoffs need not be'. Other officials at the top also received enormous compensation.
Former Chief Operating Officer and Executive Director of TCS, NG Subramaniam, received a salary of Rs 11.55 crore until May 2024, following which he stepped down from his roles at the company. The payment included a base salary of Rs 30 lakh, Rs 7.24 crore in benefits, and Rs 4 crore in commission. Each of the non-executive directors, Hanne Sorensen and Pradeep Kumar Khosla, was paid Rs 2.74 crore.
Independent director Keki Mistry received Rs 3.06 crore in total compensation, which included Rs 3 crore in commissions and Rs 5.7 lakh as sitting fees N Chandrasekaran, Chairman, received Rs 2.1 lakh as sitting fees, and no commission. FY 2024-25 salary hikes for Tata Group top executives: Anand Athreya (Tejas Networks) – ↑ 343%
P Venkatesalu (Trent) – ↑ 89.7%
Sunil D'Souza (Tata Consumer) – ↑ 28.4%
Noel Tata (Trent & Voltas) – ↑ 29.3%
Puneet Chhatwal (Indian Hotels) – ↑ 19.2%
N Chandrasekaran (Tata Sons) – ↑ 15.1%
K Krithivasan (TCS) – ↑ 4.6% Why TCS fired 12000 employees?
Notably, India's largest IT services firm, TCS, announced to lay off approximately 2 per cent, or 12,261 employees, from its global workforce this fiscal, citing a strategic change in operations. The layoffs primarily targeted middle- and senior-grade employees.
(With inputs from agencies)
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