Wipro also recently stopped ‘variable pay’ of employees due to shrinking margins and investment in technology. Apart from this, Tata Consultancy Services (TCS) has also postponed the quarterly variable pay of some employees by a month.
New Delhi. Infosys, the country’s second largest software service provider, has reduced the average ‘variable-pay’ of employees to nearly 70 per cent for the June quarter amid reduction in margins and higher employee cost. Sources gave this information.
TCS also deferred quarterly variable pay of some employees by a month
Wipro also recently stopped ‘variable pay’ of employees due to shrinking margins and investment in technology. Apart from this, Tata Consultancy Service (TCS) has also postponed the quarterly variable pay of some employees by a month.
According to sources, Infosys has reduced the variable-pay to 70 per cent for the first quarter of the current financial year and has also informed the employees about the same. Infosys did not yet respond to an e-mail sent in this regard.
Infosys profit up 3.2% to ₹5,960 crore
Infosys reported a 3.2 per cent increase in its net profit in the June quarter amid rising costs. This, however, was less than the company’s estimate. Recently, the company had said that its consolidated net profit grew by 3.2 per cent to Rs 5,360 crore in the first quarter of the current financial year.
Revenue up 23.6 per cent to Rs 34,470 crore
Giving information to the stock exchanges about the results of the April-June quarter, the company had said that its net profit in the same quarter a year ago was Rs 5,195 crore. The company’s revenue grew 23.6 per cent to Rs 34,470 crore in the June quarter. It stood at Rs 27,869 crore in the April-June 2021 quarter.
