Infosys has announced that it will roll out salary hike and promotions across all levels from January 1.
IT giant Infosys on Wednesday announced that it will roll out salary hikes and promotions across all levels, effective from January 1. The company made the announcement while releasing the Q2FY21 report, in which it posted a net profit of 20.5 per cent.
The company’s COO said that employees will get 100 per cent variable pay along with a special incentive for Q2.
“Employees have been a critical part of our success. As a recognition of their stellar performance, we are giving 100 per cent variable pay along with a special incentive for Q2. Additionally, we are rolling out salary increases and promotions across all levels effective January 1,” Infosys COO Pravin Rao said.
According to the company statement, voluntary attrition for IT services in the second quarter declined to 7.8 per cent as compared to 18.3 per cent in the same period in the last financial year. The Bengaluru-based currently has more than 2.40 lakh employees.
The announcement of salary hike and promotions by Infosys came a week after its industry rival TCS announced that it will roll out salary hikes for its employees effective October 1.
Ref: Economic times.