TCS will not give hike this April due to current market situation?

As per this article it seems like this financial year tcs will rule out by not giving annual hikes to employees. Earlier there were many rumors like being wfo persistent your salary will be affected but it seems like they have altogether cut all ropes by deferring the hikes till who knows when.

Source - https://www.google.com/amp/s/www.business-standard.com/amp/companies/news/tcs-defers-april-wage-hikes-amid-macro-uncertainty-us-tariff-concerns-125041000968_1.html