With Covid interfering with businesses all around the globe, there have been salary cuts, lay-offs and a fall down in economies everywhere, to paint a minute picture.
Technology giants like Infosys, TCS, Cognizant, HCL Tech and Wipro, among others have seen a fall in their businesses, which had a direct impact on their employees.
We have extensively covered every activity in these IT giants.
ETNow has recently reported that Salil Parekh, CEO of Infosys has announced that the IT major has initiated taking decisions about promotions and salary hikes for several employees, finalizing their decisions under the end of this quarter.
Infosys to Reward Some Employees by the End of September
As reported by Parekh, “We had an extremely high variable pay number last quarter, and will continue with that approach.”
He also added that they have initiated reviewing and discussions for employees at different levels in the company, for issues like promotions and salary hikes.
According to Parekh, all of these details will be reviewed in conjunction with the economic impact and improvement going on around the globe so that all of its employees’ hard work is paid.
He said that these changes will be observed from the end of this quarter, i.e. September, for some of the employees.
Infosys Onboarded Freshers in Q2
As reported by Parekh, Infosys had given variable pay hikes to its employees during the first quarter.
Even though the IT major had put a halt on new hirings, salary hikes and promotions to save up costs, in April, it did honour all the new job offers and fresher hirings, which were already conducted.
In fact, in the 2nd quarter, from July-September, the company onboarded 20,000 freshers, despite the Covid-19 outbreak.
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