TCS cuts variable pay of senior employees for third straight quarter

Tata Consultancy Services (TCS) has cut the variable pay of its senior employees for the January-March quarter, according to a Moneycontrol report. This marks the third quarter in a row that the country’s largest software exporter has reduced variable pay for some employees.

The report quoted a TCS employee who said, “For senior employees, variable pay forms 15-20% of the CTC (cost to company). They (the company) have been deducting the QVA (quarterly variable allowances) for over a year now. In the last quarter, I got about 20% of my variable pay out”.