TCS cut variable pay at senior levels in July-Sept quarter: Report

TCS reduced quarterly variable allowance (QVA) of several employees at the senior level in the July-September quarter amid demand uncertainty, Moneycontrol reported. While some employees got about 20-40% of their QVA, some got nil, the report stated. Full QVA was given to junior grades, TCS said, adding that for all other grades, QVA depends on their unit's business performance.