According to ET report, an Indian multinational information technology company, Infosys handed over salary hike letters to a large number of employees on Friday, Dec 15, 2023.
It does not include reviews for entry-level workers of the IT services major, according to people aware of the matter, the ET report added.
The average hike this time is likely to be below 10%. Most of the Infosys employees have received hikes in single digits, however, a few are also in low-double digits.
Infosys Nilanjan Roy, Chief Financial Officer (CFO) said, “We are pleased to revise your compensation in acknowledgment of your commitment and performance with effect from November 1, 2023,”
“Last year, we hired 50,000 freshers and hired ahead of demand…we still have a significant fresher bench… we are, of course, training them on Gen AI”, he added.
Infosys had deferred the salary hikes of its employees which it usually rolls out from April for its employees below the senior management level and which normally comes in the first quarter (June) of a financial year.
Salary hikes were delayed and during Q1FY24, Infosys CFO Nilanjan Roy had said that the matter was under ‘active consideration’. The revision has thus come as a relief to several employees who were eagerly waiting for pay hikes for the said performance cycle.
Recently, the company will be hosting a carnival for employees, families & friends on Dec 16. The company has named the event as `Stellar Saturday Cultural Carnival.’
The announcement follows when recently Infosys ended its work-from-home policy. The company has instructed employees to work from office (WFO) at least three days a week.
It is believed that the company is organizing the event so that it can motivate its employees. Additionally, employees who wish to participate along with their families and friends can only through registration. The registration ended on December 11.
The email the company said, “Be a part of the Culture Carnival and get ready for the immersive on-campus experience, featuring shopping stalls, food trucks, games, and more.”
Infosys has seen a dip of 7,530 in its headcount over the second quarter of FY24, taking the total headcount to 328,764. The company had 3,36,294 employees in the previous quarter.
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