The IT major, Infosys had earlier deferred the salary hikes of their employees and it was expected the company to roll out the salary hike in December.
However, the recent report of TOI stated that some of the employees will receive their hikes in January as some of the business units are finalizing their budgets.
On the other hand, the company has rolled out increments to many of its employees in December. Infosys has yet to comment on salary delays.
Earlier, 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 for nearly two quarters. which it usually rolls out in 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 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, Infosys has inaugurated a development center (DC) at the Mihan-SEZ in Nagpur, Maharashtra.
The new state-of-the-art development center (DC) will accommodate over 3,000 employees. The company has invested over INR 230 crore in the development of this facility, which will provide greater flexibility for employees to work in a hybrid mode and enable re-skilling and up-skilling of local talent.
Moreover, the development center will also allow employees to work on next-gen technologies like cloud, AI, and digital across multiple industries, such as telecommunications, banking, retail, aerospace, automobile, logistics, and manufacturing, among others.
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