A South Korean multinational electronics corporation, Samsung has reduced the salary hike of its employees. The average salary hike is 4.1 percent.
The company announced internally earlier in the day on Saturday, April 16. However, in the previous year, the company had agreed on a salary increase of a 9 percent average pay hike for its employees. Moreover, the company’s employees demanded a 16 percent pay hike after the company recorded revenues.
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According to the IANS reports, the effective freezing raises for its board members due to poor performance amid a worsening chip glut and a global slowdown.
Samsung Alteration in Policies
Samsung has aligned an agreement with representatives of its employees over wages and other labour policies. These labour policies include extending shortened working hours for pregnant employees.
Additionally, the reports have also suggested that the company is currently exploring the possibility of creating an in-house AI service similar to ChatGPT that could assist employees with coding tasks and improve productivity.
TCS employees to get 12-15% hike
Tata Consultancy Services (TCS) is expected to revise the salary of employees as usual.
Milind Lakkad, the Chief Human Resources Officer said, “It is expected that the top performers will receive a 12-15 percent salary hike.
“Our hikes this year will be similar to what we have been giving. Especially for high performers, we are basically looking to get them to a 12-15 per cent hike… then there is 8, 5, 1.5 per cent — It’s that kind of a number which is coming up for the rest,” Milind Lakkad said.
Air India staff to receive 8-10% salary hike
Tata group-owned Air India will be revising the salary of staff and it is expected the salary hike to be nearly 8-10%. The salary hike will benefit employees across the board, including pilots, and cabin crew. The initial salary hike will be for the pilots. Post this, the salary hike will take place for the cabin crew and other officers.
