TCS announces Special Reward for Employees to mark 10th anniversary of IPO
One-time Bonus for employees worth Rs 2628 crore ($423 million)
MUMBAI April 16, 2015: Tata Consultancy Services, (TCS), (BSE: 532540, NSE: TCS) a leading IT services, consulting and business solutions organization, announced today that it will pay employees a Special Reward or one-time bonus to mark the 10th anniversary of the company’s initial public offering in 2004.
Globally all employees who have completed at least one year of service will be eligible for the special bonus payment. Each employee will be given a reward equivalent to one week’s salary for every year of service completed at TCS. For the company, the total consideration for this Special Reward to employees to mark ten years of listing on India’s largest stock exchanges will be Rs 2,628 crore.
N Chandrasekaran, CEO & MD congratulated all the employees for helping build TCS into one of the world’s most energetic and innovative organisations. “Today, we act as a strategic partner to many global customers and TCSers are well-known for their ability to execute, innovate and provide leadership in the customer’s context. This Special Reward to employees acknowledges the role they have played in building TCS into one of the most respected and valued technology services companies in the world.”
TCS went public in August 2004 listing its shares on the Bombay Stock Exchange and the National Stock Exchange. It has since become the company with the highest market capitalization in the Indian stock market.
About Tata Consultancy Services Ltd (TCS)
Tata Consultancy Services is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPS,infrastructure, engineering and assurance services. This is delivered through its unique Global Network Delivery Model™,recognised as the benchmark of excellence in software development. A part of the Tata group, India’s largest industrial conglomerate, TCS has over 319,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $15.5 billion for year ended March 31, 2015 and is listed on the National Stock Exchange and Bombay Stock Exchange in India. For more information, visit us at www.tcs.com.
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