I have received a different update today which says TCS has announced hikes. Please read below and confirm if this is true???

Below is the message I received from a friend:

Tata Consultancy Services (TCS) has announced a salary hike for its employees, ranging from 4% to 8%, effective April 2025. Here's a breakdown of what you can expect:

Salary Hike Range

• 4% to 8%: The hike percentage varies based on performance and band allocation.
• A Band: 6% raise, with employees having a 5 rating earning around ₹4.1 lakhs and those with a 4 rating earning around ₹3.95 lakhs.
• B Band: 4% raise.
• C Band: 2% increase ¹.

Performance-Based Raises

• 70% of employees: Expect a 20% pay increase.
• Remaining employees: Performance-based raises will be granted.

Variable Pay Payouts

• Junior/Mid-level employees: 100% variable pay payout.
• Senior-level employees: 20-40% variable pay payout ².

Promotions

• 25,000 employees promoted: In Q3 FY25.
• 110,000 expected promotions: By the end of FY25 ³.

Industry Trend

• Double-digit hikes: During COVID-19, now reduced to single digits post-pandemic