Special one-time bonus for TCS techies

Indian IT bellwether Tata Consultancy Services (TCS) on Thursday announced one-time bonus for its employees to mark a decade of it going public.

"Employees completing one year of service will be eligible for the special reward, which will be equivalent to a week's salary for every year of service," the global software major said in a statement here.

The reward will cost the IT sourcing major Rs.2,628 crore.

"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," TCS chief executive N. Chandrasekaran said in a statement.

The reward also acknowledges the role of techies in building TCS into one of the most respected and valued software services firms the world over.

TCS went public in August 2004, listing its shares on the Bombay Stock Exchange and the National Stock Exchange.

The company's blue chip shares command highest market capitalization in the Indian stock market

The city-based TCS has a record 319,656 employees worldwide.

The company also has the highest brand value of $8.7 billion globally.