Infosys reduces employee bonuses after execs promised better profit margins
Infosys also reported a staff attrition rate of 28.4 percent for the previous twelve months. That figure was higher than that recorded at rivals Tata Consultancy Services , Wipro, and HCL Technologies.
The four IT outsourcers have all experienced relatively high attrition rates as workers have felt safe to seek new gigs with the easing of COVID-19 restrictions, resulting in muchLike Infosys, TCS, Wipro and HCL Technologies reported healthy finances for their most recent quarters while warning of future challenges.
"After posting such financial results still the company is deducting 30 percent of variable pay which is clear exploitation of IT employees," NITES president Harpreet Salujah told"In May 2022 the company justified a 43 percent increase in salary to CEO Salil Parekh saying the firm has achieved industry-leading growth in recent years," Salujah added.has reached out to Infosys for comment and will report back if there is substantial reply.
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