IT company Infosys has implemented the salary increase. According to a newspaper report, a large number of company employees received letters regarding salary increase on December 15. This increase will be effective from November 1, 2023. This increase in salary is for 2023-24 and does not include entry level employees. Also, the average increase in salary this year is expected to be less than 10 percent.
IT company Infosys has implemented the salary increase. According to a newspaper report, a large number of company employees received letters regarding salary increase on December 15. This increase will be effective from November 1, 2023. The letter states, ‘We are pleased to make changes to your package in exchange for your commitment and performance. This increase will be effective from November 1, 2023. We thank you for your cooperation and efforts in dealing with the current challenges.
This increase in salary is for 2023-24 and does not include entry level employees. Also, the average increase in salary this year is expected to be less than 10 percent. Sources aware of the matter said, ‘The salary increase of many employees has been in single digits, while the increment of some employees has been around 10 percent.’
There has been a delay in salary increase this time. Infosys generally implements salary hikes for employees below senior management from April, while for senior management the hike comes into effect from July. Infosys Chief Financial Officer (CFO) Nilanjan Roy had said after the announcement of second quarter results in October, ‘After every quarter we take stock of the situation, so nothing is decided.’
Infosys had a net profit of Rs 6,212 crore in the July-September quarter. There was a growth of 3% on annual basis. This figure was Rs 6,026 crore in the same quarter last year. Along with the announcement of results, the company also announced dividend. Infosys had declared an interim dividend of Rs 18 on each equity share of face value of Rs 5.
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