Infosys Launches Marketplace Of Gig Jobs For All Employees; But Rejects Dual-Employment

Speaking about moonlighting, India’s second-largest IT services company Infosys said that due to dual employment, the company must let go some of its employees.

Moonlighting has created quite a stir and means employees taking up side gigs to work on more than one job at a time.

CEO and MD of Infosys, Salil Parekh said during the Q2 earnings briefing that “To be clear, we do not support dual employment. We have found in the past 12 months of the employees who are doing blatant work in two different companies where and there’s confidentiality issues, we have let go of them.”

The Infosys management said “One of the things that our company is always focused on is making sure that we have a real attention to learning opportunities and just generally opportunities for all of our employees. And we’ve always encouraged our employees who have that sort of a mindset within the company”.

Infosys’ Stance on ‘gig’ opportunity

As per the Bengaluru-headquartered firm, a new platform, called “Accelerate”, a gig opportunity within the organisation, has been set up. 

The management said that “Within the company, we’ve set up over the last several years, not now not last week, or last several years, a platform which we call accelerate to which employees can look at what we call it totally gig work, different projects outside of their main work. Outside of the main work on an average quarter over 4,000 people apply for this, about 600 are selected. It’s something that is active in the company”.

Touching down on employees working on certain gig projects, the company said that “We support the aspirations of our employees to learn beyond their work. We will support them to work on certain gig projects after prior approval of the managers. We’re also developing more comprehensive policies for that, while ensuring contractual and confidentiality commitments are fully respected.”

Infosys Raises Annual Sales Forecast

Despite the common industry notion and defying the fear of global economic slowdown and its effect on pushing the client away due to reduced tech spending, the company has in fact raised its annual sales forecast.

The IT giant said that it expected revenue to grow between 15% to 16% in the year to March next year. Analysts had projected 19% revenue growth on average.

The IT major posted an 11% year-on-year rise in consolidated net profit to ?6,021 crore for the quarter ending September, and also announced a share buyback programme worth ?9,300 crore.

Infosys will also pay an interim dividend totalling ?6,940 crore to its shareholders.