Software major Tata Consultancy Services (TCS) which posted a 22 per cent increase in Q4 net profit, said it will give wage hikes averaging about 7% this year, along with 100 per cent variable pay. TCS will also hire 45,000 people this year and has already made 25,000 campus offers. The company said it hired 20,098 people (gross) in the fourth quarter ended March 31, 2013. The net addition stood at 12,559 people. During FY’13, TCS added 69,728 (gross) and 37,613 (net) people during the year taking its total headcount to 2,76,196. The attrition rate during the quarter stood at 10.6 per cent on LTM (last 12 month) basis.
Source: NDTV Profit