July 14, 2023
1 min read

Infosys defers pay hikes

Senior management-level employees, whose hike is scheduled to come in the month of July, are also clueless about the company’s plans…reports Asian Lite News

Tech major Infosys has deferred pay hikes for employees, according to sources in the company.

Employees in ranks below the management level usually receive their hikes from the month of April.

The sources said that the employees are hoping that they will get a good news from the company before or on the day Infosys announces its first quarter results of the financial year 2023-2024 on July 20.

So far, the employees have not received any intimation from the management for their salary hikes which used to come in the first quarter in the June, the sources claimed.

Senior management-level employees, whose hike is scheduled to come in the month of July, are also clueless about the company’s plans.

The development is seen as continuation of a gloomy scenario in the global IT sector.

Infosys had denied pay hikes during Covid pandemic in 2020 for cash conservation and released hikes in January 2021.

The tech major will commemorate the completion of 40 years of the company on December 14.

Infosys Chairman and Co-founder Nandan Nilekani had made his intentions of handing over the reins of tech giant to a non-founder for the first time ever since the company began its operations on the occasion.

ALSO READ-LIC International, Policybazaar team up to drive insurance growth

Previous Story

Wagner group ‘simply does not exist’, says Putin

Next Story

Indian customers fall in love with foldable smartphones

Latest from Business

RBI Holds Rates, Boosts Outlook

One of the most significant announcements was the upward revision of India’s GDP growth forecast for FY 2025–26—from 6.5% to 6.8% In a move reflecting cautious optimism, the Reserve Bank of India

Nykaa Expands Global Footprint with UK Debut

To commemorate this significant global debut, Nykaa’s leadership hosted an exclusive soiree at the George Club in Mayfair, London Nykaa, India’s leading beauty and lifestyle destination, is set to make a grand

Nothing’s CMF Goes Indian with $100M JV

Company has announced a $100 million joint venture with Indian electronics manufacturer Optiemus Infracom Limited….reports Asian Lite News Smartphone maker Nothing has spun off its budget sub-brand CMF into an independent subsidiary,

Airbnb Boosts India Economy

Among international guests, the largest inbound sources were the United States, United Kingdom, Canada, and Australia Hospitality giant Airbnb made a significant impact on India’s economy in 2024, contributing Rs 113 billion

Rupee, Markets Gain Amid Trade Optimism

Emerging market currencies, including the rupee, have gained support amid softening in the dollar. Reports suggesting that the US economy is on the verge of a recession have contributed to the greenback’s
Go toTop

Don't Miss

Infosys seals € 1.5 bn deal with Liberty Global

Liberty Global is in the converged broadband, video and mobile

Infosys logs fastest growth in decade

Infosys’ Q4 sequential growth was 1.2 per cent in constant