Infosys Promotes 4,000 Employees This Month

Infosys has given promotions to about 4,000 employees this month. The step has been taken to retain staff and boost their morale. The IT giant has promoted about 12% of its 1,65,000 employees since April this year.

"We announced a quarterly promotion system earlier this year. In August, 5,000 employees across sales, delivery and business-enabling functions across geographies were promoted. With the promotions we did at the beginning of this month, over 19,000 employees have been promoted since April 2014,” said a company spokeswoman.

This was the fourth round of promotions by the company. About 10,000 employees were promoted in April and June. Vishal Sikka, in his first week as the chief executive officer of Infosys, approved 5,000 promotions.

Infosys reported an attrition rate of 19.5% at the end of the first quarter of FY2014-15, and more than 20% in the second quarter. At rival Wipro, the rate was under 17% at the end of the second quarter.