Infosys: Excellent news for Infosys workers! At Infosys, salary growth was less than 10% this time

 Infosys: Excellent news for Infosys workers! At Infosys, salary growth was less than 10% this time

The pay raise was put into effect by the IT business Infosys. A media article claims that on December 15, a significant portion of the company's workforce got letters about pay increases. The hike is going to take effect on November 1, 2023. The pay rise mentioned here is only applicable to entry-level workers for the years 2023–2024. Furthermore, it is anticipated that this year's average income growth would be less than 10%.

The pay raise was put into effect by the IT business Infosys. A media article claims that on December 15, a significant portion of the company's workforce got letters about pay increases. The hike is going to take effect on November 1, 2023. "We are happy to make changes to your package in exchange for your commitment and performance," the letter reads. The hike is going to take effect on November 1, 2023. We appreciate your cooperation and hard work in overcoming the present obstacles.

The pay rise mentioned here is only applicable to entry-level workers for the years 2023–2024. Furthermore, it is anticipated that this year's average income growth would be less than 10%. "The salary increase of many employees has been made in single digits, however the increment of some employees has been around 10 percent," according to sources with knowledge of the situation.

This time, the pay raise has been delayed. Infosys typically starts raising salaries in April for staff members under senior management, and in July for those in senior management. Following the release of the company's second quarter results in October, Infosys Chief Financial Officer (CFO) Nilanjan Roy said, "After a little every quarter we take stock of what's happening, so nothing is decided."

The July–September quarter had a net profit of Rs 6,212 crore for Infosys. The yearly growth rate was three percent. In the same quarter of the previous year, this amount was Rs 6,026 crore. In conjunction with the results release, the corporation declared a dividend. Infosys said that each equity share with a face value of Rs 5 will receive an interim dividend of Rs 18.