Infosys Salary Hikes: Infosys has officially announced that it will increase the salary of its employees from next week. Its rollout will take place on November 1, which is just a few days away. Know why the step was taken:
Infosys Offer Salary Hikes: Infosys has officially announced that it will increase the salary of its employees from next week. Its rollout will take place on November 1, which is just a few days away. The news was shared by the company’s Chief Human Resources Officer Shaji Mathew during a town hall meeting. This step has been taken after the company postponed its annual salary hike for the last few months.
Let us tell you that while it is the practice at Infosys to give annual salary hike to employees below senior management in April, others in the organization get their share of the increase in July. This year, the company had postponed salary hikes due to business optimization undertaken to address industry headwinds.
During an investor call after the earnings report, Infosys Chief Financial Officer, Nilanjan Roy, explained that the decision to delay the salary hike was made to address inefficiencies within the company. He said that these steps have improved the company’s margins by 50 basis points.
Infosys’ move comes at a time when the company has experienced a consecutive three-quarter reduction in its workforce, despite a declining trend in employee headcount. However, there are currently no immediate plans to return to campus recruitment. The move by Infosys to restore salary hikes could have a cascading impact on the IT industry, as companies grapple with the ongoing challenges posed by the changing landscape of the sector.
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