2023-12-16 16:08:46
Infosys Issues Salary Revision Letters to Employees, Average Wage Increase Less Than 10 Percent
Infosys, the Indian multinational corporation that provides business consulting, information technology, and outsourcing services, issued salary revision letters to its employees on Friday, December 15. According to a report by the Economic Times, the average wage increase is less than 10 percent.
While the pay hikes were announced to come into effect from April 1, it was also stated that they will be given from November 1, 2023. However, entry-level employees have been informed that there will be no pay hike this year.
Employees have been asked to accept the salary increase to meet current economic costs and continue to work well. Despite this, employees have stated that they are not upset with the salary hike.
The salary revision comes as Infosys’s year-on-year revenue growth fell to 1 percent to 2.5 percent. In the September quarter, revenue rose 7 percent to Rs 38,994 crore from Rs 36,538 crore in the same period last year. On October 25, Infosys declared an interim dividend of Rs 18 per share to shareholders.
At the end of the trading day yesterday, Infosys’s share price was trading at Rs.1,576.55 with a rise of 5%.
Overall, the company’s recent financial updates have garnered mixed reactions from both employees and investors. As Infosys continues to navigate economic challenges, employees are being urged to “shout a lot at work and take it to the next level.”
#Infosys #Salary #Hike #happy #salary #increase. #Infosys #employees #despair #Infosys #salary #revision #letters #employees #hike #percent #report