India’s second-largest IT service company Infosys said on Wednesday that it will start increasing salary and promoting at all levels. This increase in salary will be applicable from January 1. Infosys is also offering 100% variable pay with special incentives for the second quarter. The Bangalore-based company has 2,40,208 employees at the end of September 2020.
Will also pay 100% variable pay
During the virtual briefing, Infosys CEO and MD Salil Parekh said that at this time, recognizing the excellent commitment from employees, they will pay a variable pay of 100 per cent for the quarter. He told that he will also pay one-time special incentive for his junior employees in the third quarter. After this, he told that the process of increase in salary will now start again and will be applicable from 1 January 2021.
Parekh said that he had restarted promotion at the junior level in the last quarter and now it will be expanded to all levels of the company. Infosys had earlier said that it was suspending the increase in promotion and salary. The company had said that this is being done in the midst of slowness in the business due to the epidemic but it will continue all the job offers made by it.
The amount of the increase in salary will be the same as in previous years
Infosys COO Praveen Rao said that the amount of increase in salary will remain the same as in previous years. Last year, Infosys had increased the average salary by about 6 per cent, while it was 1 to 1.5 per cent outside the country. In the September 2020 quarter, Infosys added 975 people.
Let us know that the results of Infosys have been better than anticipated. On an annual basis, the company’s profit has increased by nearly 21 per cent to Rs 4845 crore. The company’s profit in the same quarter a year ago was Rs 4019 crore. At the same time, on a quarterly basis, it has grown by 14 percent. Infosys reported a profit of Rs 4233 crore in the June quarter.
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