Key Points
This comes as India's second largest IT firm paid 60% variable last quarter on an average..
Previous hikes were paid in July 2022.ETMarkets.com..
The average payout at the organisation level is at 80% for the first quarter of FY24, the mail said, adding that individual payout percentages will differ based on performances and contribution for the quarter..
For the June-ended quarter, Infosys posted a nearly 11% increase in first-quarter net profit, but missed analyst estimates and slashed its revenue growth outlook for the fiscal year, blaming spending cuts and delays in decision-making by clients...
Infosys also projected its revenue in fiscal 2024 to grow 1.0-3.5% in constant currency, or excluding exchange rate fluctuations, compared with the previous estimate of 4.0-7.0%, underlining the global macro challenges for the countrys storied sector which is seeing tepid demand for outsourcing services..
You might be interested in
Infosys to announce 60% average variable pay for its employees soon, say reports
17, May, 23A report said that Infosys will disburse Q4 variable pay along with the May salary to employees. For FY24, Infosys has guided for revenue growth of 4%-7% in constant currency which is below market estimates
Infosys to start next appraisal cycle as pending hikes drag on
27, Sep, 23The countrys second largest IT exporter will start its ‘performance review cycle–October 2023 with self-evaluation on September 29, according to an email sent to managers. Manager evaluation will happen by October-end while rating will be communicated to individual employees in the first week of December, said the email, a copy of which ET has seen.
Infosys to roll out hikes on November 1 after deferring for two quarters, confirms CHRO
23, Oct, 23The IT company usually rolls out the annual hikes to all its employees below the senior management in the month of April.
Infosys employees to get average 80% variable pay for Q1FY24 amid 'good performance'
23, Aug, 23'We delivered a good performance in Q1, setting a robust foundation for future expansion,' Infosys told its employees
After deferring for 2 quarters, Infosys to roll out hikes in November
23, Oct, 23Infosys is focusing on tenured employees and high performers in its upcoming compensation review cycle. The company has deferred its hikes for two qua