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TCS top management takes pay cut as part of cost optimization measures

city Mumbai covid-19 2020 pandemic SOLIDARITY
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MUMBAI: IT services behemoth Tata Consultancy services (TCS) has said its CEO and MD Rajesh Gopinathan's remuneration shrank 16.5% to ₹13.3 crore in 2019-20 compared to the previous fiscal.

In its annual statement to investors, the Mumbai-based company said managerial remuneration decreased 15% for FY20 following cost optimization measures.

The executive remuneration was also moderated in line with these measures. Gopinathan's pay package is 214.65 times the median salary of TCS.

In 2018-19, Gopinathan had received a total remuneration of ₹16.02 crore which was 262 times the median salary of TCS employees. “The managerial remuneration for the year decreased by 15%.

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