Infosys Defers Pay Hike Below Senior Management Level Employees

Infosys, one of India's largest IT services companies, recently announced a deferral of pay hikes for its employees, a move aimed at navigating the challenges posed by the ongoing global pandemic and economic uncertainties, according to moneycontrol.

They have not received their salary rises that typically arrived in the June quarter (Q1), according to several employees in the know. Additionally, they have not been informed of the delay or when they would likely receive their salary raises, moneycontrol reported.

Senior management also receives raises from the corporation in July, although they haven't heard anything about them yet. At the time of publication, it was unclear whether these hikes had also been postponed.

Pay hikes were ultimately given out in January 2021 after Infosys had put them off during the Covid pandemic in 2020 in order to save money.

The leading corporation in the technology sector will commemorate its 40th anniversary on December 14.

Infosys is required to release financial results for the first quarter of the current fiscal on July 20, and analysts anticipate a muted performance. For the entire year, the big IT company has projected revenue growth of 4-7% in FY24; this will be the first time since FY18 that the company's revenue would fall within this advised range.