Infosys Salary Hikes news is trending, 10% Hike
Infosys Breaks Tradition with Early Salary Revisions, Boosting Holiday Spirits for Employees
In a surprising move, Infosis, one of India’s leading IT giants, has jump-started the holiday season with the announcement of salary revisions for a substantial number of its employees. The company has chosen to implement these revisions earlier than industry norms, with the salary hikes set to take effect from November 1, 2023, deviating from the usual April 1 timeline. It’s worth noting that entry-level workers are excluded from this round of revisions, and the average hike is expected to be below 10%, according to reports.
The communication, reviewed by The Economic Times (ET), expressed the company’s pleasure in revising employee compensation, stating, “We are pleased to revise your compensation in acknowledgment of your commitment and performance with effect from November 1, 2023.” This unexpected announcement comes at a time when the global IT sector faces sluggish demand for technology services.
Infosis, in its communication, extends gratitude to its employees for their “unparalleled support and efforts to overcome the current challenges and ensure success in all aspects.” Insiders suggest that the strategic move is aimed at uplifting employee morale amid industry challenges.
The salary revision letters were distributed just a day ahead of Infosys’ much-anticipated ‘Stellar Saturday Culture Carnival’ event scheduled for December 16, set to take place across its numerous campuses in India. The timing of this announcement adds an element of surprise and festive cheer, breaking away from the traditional compensation review timeline. Infosys had delayed the announcement this year, with CFO Nilanjan Roy mentioning during the first-quarter earnings conference that the rollout of annual hikes was under “active consideration.” This move showcases Infosys’ commitment to recognizing and rewarding employee dedication during challenging times.
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