India’s outsourcing industry needs to hire and retain staff in big numbers to keep business humming, so for the 10th anniversary of its initial public offering, Tata Consultancy Services announced a one-time “special reward” for its employees.

As a result, Tata took a dip in profits in the first quarter to give out a large bonus.

TCS said all its employees worldwide, who have completed at least one year of service, would be eligible for the special bonus, with each employee paid one week’s salary for every year of service in the company.

At the end of the quarter TCS had 319,656 employees. The bonus will cost the company about US$423 million.

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