Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

The spat between <a href="http://www.businessinsider.in/searchresult.cms?query=infosys&amp;sortorder=effectivedate">Infosys</a> founders and the board members regarding the pay packages and governance issues is getting uglier. 
 On one hand where <keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword> founders are raising objections over pay hikes and severance packages of the people at the helm, the board is saying not much has been raised in the salaries of the top management. 
 
Infosys founder <a href="http://www.businessinsider.in/searchresult.cms?query=narayana+murthy&amp;sortorder=effectivedate">NR Narayana Murthy</a> wrote a letter criticising pay hike given to <a href="http://www.businessinsider.in/searchresult.cms?query=pravin+rao&amp;sortorder=effectivedate">Infosys COO Pravin Rao</a>, calling it unjustified. 
 
However, <a href="http://www.businessinsider.in/searchresult.cms?query=vishal+sikka&amp;sortorder=effectivedate">Infosys CEO Vishal Sikka</a> said pay hike is critical to retain top talent. 
 "It is essential for us to see that this revision in his compensation, as with several of our senior leadership team, is focused on making Infosys more competitive, is benchmarked against peers. (It) is critical for us to retain key talent and align the long-term interests of our leadership team with that of our shareholders," said CEO <keyword id="6369763" type="PERSON" weightage="100" keywordseo="Vishal-Sikka">Vishal Sikka</keyword>. 
 
Meanwhile, Infosys stated the stock given to Rao has a vesting period of four years. This means the net increase in his compensation for fiscal 2018 will be 1.4% which could go up to 33.4% in the fourth year, assuming similar grants are made in subsequent years. 
 
The company said cash component of Rao's salary, including annual cash bonus, has fallen 10.6% to Rs 4.6 crore from Rs 5.2 crore earlier while the performance-based component, directly linked to company and individual performance, has been increased to 63% from 45% of total compensation. 
 
"I do not see Rao's compensation as a corporate governance issue. That is because it is not a related party transaction. Rao is a professional and not a promoter," said JN Gupta, managing director at Stakeholders Empowerment Services. 
 
The issue will be discussed during the two-day board meeting, which is scheduled for April 12 and 13.

Infosys founders Vs board: Here’s what CEO Vishal Sikka said in COO Pravin Rao's defence

The issue of pay package and increase in compensation to top level employees between founders and the board members in <a href="http://www.businessinsider.in/searchresult.cms?query=infosys&amp;sortorder=effectivedate">Infosys </a>is refusing to die. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=narayana+murthy&amp;sortorder=effectivedate">Infosys founder NR Narayana Murthy</a>, in a letter to media, said giving compensation hike of around 60-70% to a top level person is grossly unfair to other employees. 
 The issue of compensation hike cropped up when in October, <keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword> said it was raising<a href="http://www.businessinsider.in/searchresult.cms?query=pravin+rao&amp;sortorder=effectivedate"> Infosys COO UB Pravin </a><a href="http://www.businessinsider.in/searchresult.cms?query=pravin+rao&amp;sortorder=effectivedate">Rao</a>’s salary to include a fixed compensation of Rs 4.62 crore and variable compensation of Rs 3.88 crore per annum. 
 
 
This was put to vote and the postal ballot also asked shareholders to vote on the appointment of DN Prahlad as independent director and to approve an amendment to the company's Articles of Association to allow it to buy back shares. 
 
Rao's salary hike passed with 67% of votes cast being in favour of it. About 33% of the votes cast were against the raise. About 74% of shares held by public institutional shareholders also voted on Rao's salary. Of those, 25% were against the increase. Of the 46% of shares that were voted by public- non-institutional shareholders - 67% were against the increase. 
 
In this backdrop, Murthy wrote the increase will erode the trust of the rank-and-file employees. 
 
“Giving nearly 60% to 70% increase in compensation for a top level person (even including performance-based variable pay) when the compensation for most of the employees in the company was increased by just 6% to 8% is, in my opinion, not proper. This is grossly unfair to the majority of the Infosys employees including project managers, delivery managers, analysts, programmers, sales people in the field, entry level engineers, clerks and office boys who are toiling hard to make the company better,” he wrote. 
 
Apart from Rao, <a href="http://www.businessinsider.in/searchresult.cms?query=vishal+sikka&amp;sortorder=effectivedate">Infosys CEO Vishal </a><a href="http://www.businessinsider.in/searchresult.cms?query=vishal+sikka&amp;sortorder=effectivedate">Sikka</a>’s pay package was also in limelight. 
 
"This abstention has nothing to do with Pravin. Those of us who have always stood for fairness in compensation and practiced it, right from the day Infosys was founded, will have to demonstrate it when needed. This is a time when it is needed. Nothing more and nothing less,” Murthy said in the email sent to reporters. 
 
Read his full letter here: 
 
Dear Folks, 
 
If you use the contents of this mail, please quote me verbatim and in full. Please do not paraphrase. 
 
I have lots of affection for Pravin. Let me state you the facts. 
 
I recruited Pravin in 1985 and had nurtured him throughout my stay at Infosys since then. 
 
He had been sidelined. He was not even a member of the Executive Council at Infosys in 2013 when I came back. Kris, Shibu snd I encouraged him, elevated him to the board, and made him the COO when we recruited Vishal as the CEO. So, this abstention has nothing to do with Pravin. 
 
Those of us who have always stood for fairness in compensation and practised it, right from the day Infosys was founded, will have to demonstrate it when needed. This is a time when it is needed. Nothing more and nothing less. 
 
I believe in striving towards reducing differences in compensation and equity in a corporation. You may not know that my Infosys salary at the time of the founding of Infosys was just 10% of my salary in my previous job. I ensured that my younger, co-founder colleagues got 20% higher salary over their salaries in their previous job even though I was 7 levels above them in my previous job and was 11 years older than them. I gave them huge equity compensation the like of which has never been replicated in this world. So, this abstention comes from somebody who has walked the talk. 
 
I have always felt that every senior management person of an Indian corporation has to show self restraint in his or her compensation and perquisites. He or she has to fight for maintaining a reasonable ratio between the lowest salary and the highest salary in a corporation in a poor country like India. The board has to create a climate of opinion for such a fairness by their actions. 
 
This is necessary if we have to make compassionate capitalism acceptable to a majority of Indians who are poor. Without compassionate capitalism, this country cannot create jobs and solve the problem of poverty. Experts tell me that capitalism may come to an end in the not-so-distant future if the current corporate leaders do not heed this advice in India. 
 
Further, giving nearly 60% to 70% increase in compensation for a top level person (even including performance-based variable pay) when the compensation for most of the employees in the company was increased by just 6% to 8% is, in my opinion, not proper. This is grossly unfair to the majority of the Infosys employees including project managers, delivery managers, analysts, programmers, sales people in the field, entry level engineers, clerks and office boys who are toiling hard to make the company better. The impact of such a decision will likely erode the trust and faith of the employees in the management and the board. With what conscience can a decent person like Pravin ( a man schooled in Infosys values for over 30 years) tell his juniors that they should work hard and make sacrifice to reduce cost and protect margin? I have got so many mails from these people asking whether this resolution is fair. No previous resolution in the history of the company has received such a low approval. 
 
Finally, given the current poor governance standards at Infosys, let us also remember that these targets for variable pay may not be adhered to if the board wants to favor a top management person. 
 
Thanks.

Murthy says 60%-70% compensation hike to COO grossly unfair to Infosys employees. Read his full letter here

Indian IT firm <keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword> just revised the pay structure of its key executives and the salaries of the top leadership is bound to take a hit. 
 After the revision, <keyword id="3747292" type="UNKNOWN" weightage="20" keywordseo="Infosys-COO-Pravin-Rao">Infosys COO Pravin Rao</keyword>'s take-home pay could hit Rs 8 crore and even Chief Financial Officer M D Ranganath’s salary will be hit. 
 
"The Board of Directors have approved the revised annual compensation of Pravin Rao...with effect from November 1, 2016, subject to the approval of the shareholders. The compensation includes fixed compensation of Rs 4.62 crore per annum and a variable compensation of up to Rs 3.88 crore per annum," Infosys said. 
 
Additionally, based on fiscal 2016 performance, Rao will get 27,250 restricted stock units (RSU) and 43,000 stock options, vested over a period of four years. 
 
Infosys stated the revised aggregate compensation of Mohit Joshi (Head of the Financial Services), Sandeep Dadlani (Head of Americas), Rajesh K Murthy (Head of Europe), Ravikumar S (Chief Delivery Officer), David Kennedy (Chief Compliance Officer), Krishnamurthy Shankar (Group Head of Human Resource Development) and Manikantha AGS (Company Secretary) includes fixed compensation of Rs 24 crore and variable compensation of up to Rs 20 crore. 
 
Meanwhile, Infosys inducted founder and CEO of Surya Software Systems D N Prahlad as an independent director on its Board. 
 
Infosys Chairman R Seshasayee said, "We are delighted to welcome Prahlad, a distinguished technologist to the Board. Prahlad brings with him, not only his deep knowledge of the company, but also sharp insights into the industry.”

Salaries of Infosys’ top executives take a hit. This is how much the COO will earn now

<keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword> chief executive <keyword id="6369763" type="PERSON" weightage="100" keywordseo="Vishal-Sikka">Vishal Sikka</keyword> took home an annual salary package of $7.45 million for the 2015-16 financial year, while other top company executives such as operating chief UB <keyword id="1983988" type="UNKNOWN" weightage="100" keywordseo="Pravin-Rao">Pravin Rao</keyword> and general counsel <keyword id="551667" type="PERSON" weightage="100" keywordseo="David-Kennedy">David Kennedy</keyword> also raked in multi-million dollar pay packages. 
 
Sikka's salary, which compared favorably against other top IT CEOs such as N Chandrasekaran of TCS and Abidali Neemuchwala of Wipro, includes his earnings from incentives and and bonuses as well as his stock options. 
 
Earlier in 2016, Infosys's board rewarded Sikka with a significant pay hike and an extension on his current tenure, after he effected a turnaround in the fortunes of Infosys that helped the company trump other top rivals and deliver industry-level growth rates after years. 
 
As part of the new proposed compensation structure, Sikka stands to make about $11 million every year, starting January 2017. Infosys has rewarded with a significantly higher component of stock options and reduced the part of his salary that was linked to variable pay. As part of his old contract, Sikka made $7.08 million, including stock options. 
 Since last year, Infosys has raised <keyword id="6402851" type="UNKNOWN" weightage="100" keywordseo="Salaries">salaries</keyword> of top executives significantly, as part of a broader strategy to retain key executives and subsequently reward rainmakers. 
 
 
 
Image credit: Indiatimes

Infosys CEO Vishal Sikka rakes in $7.45 million in salary this year

<keyword id="4606228" type="UNKNOWN" weightage="20" keywordseo="infosys-coo-ub-pravin-rao">Infosys COO UB Pravin Rao</keyword> said reports of large-scale job losses is highly overstated and the company plans to hire 20,000 people this year. Rao said <keyword id="6354512" type="CITY" weightage="20" keywordseo="Infosys">Infosys</keyword> is creating more jobs and the technology-driven transformation presents new opportunities for companies like Infosys. "With respect to all the talks of layoffs, it's regular performance based things that we do every year. The number is really 300-400, which is consistent with what we have seen every year," said Rao. He declined however to comment on views of Infosys co- founder NR Narayana Murthy that jobs can be protected if the senior executives of companies take salary cuts and invest in employee re-skilling. Meanwhile, various employee unions have approached labour commissioners and state governments to intervene in the matter. "I think all the news about job losses are overstated. Infosys itself last year recruited over 20,000 people and this year again, we are likely to repeat similar numbers," Rao said.

Only 400 people asked to leave, will hire 20,000 this year: Infosys

<keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword>, which is India's second-largest software exporter after Tata Consultancy Services, has found a way to make its employees even happier. It has started handing out special bonuses and incentives to top-performing employees and sales executives, on top of their regular salaries and incentives. 
 
The company also plans to hire about 20,000 engineering graduates from campuses in the next financial year, a number roughly similar to the campus offers that were made this year, as per a top company executive. 
 "What we are trying to experiment with is — we have a regular compensation structure which is base plus bonus. And bonus component depends on how the company and individual has performed. So, that structure will continue — in addition, every quarter based on what we think is imperative, we're experimenting (with something new) and this changes every quarter. So suppose, this quarter there is an important metric, we are announcing a (separate) incentive," said <keyword id="645752" type="UNKNOWN" weightage="100" keywordseo="UB-Pravin-Rao">UB Pravin Rao</keyword>, who is the Chief Operating Officer of Infosys. 
 
Rao also said that this special incentive structure has been put in place so that the company can meet its short-term quarterly targets in an even effective manner. For example, in this quarter, Infosys is incentivising its sales organisation on how well they manage to sell the company's newly-launched Aikido line of services. 
 
"We're saying, if you meet X million of revenue, then we'll clear this kitty and over and above the net, we'll give them this much. So those are incremental bonuses or incentive schemes that we've come up with, just to make sure that there is more alignment to some of the short-term things we're trying to do, in addition to regular bonuses which is based on overall performance," Rao told ET. 
 
"This half, the focus is more on selling our new Aikido services. So, we're trying to incentivise people on that. So whoever does X million of revenue, over the next 6 months, there is a separate kitty that is given out to them," he added. 
 
In other news, Infosys is in early internal discussions so that it can potentially revamp its current startup incubator program and launch an accelerator-like program within the company. This program would be exclusively for startups, as confirmed by two people with direct knowledge of the matter, on conditions of anonymity. 
 
Rao, however, insisted that these talks were at a "very early stage" and the company is yet to take a final call on the shape and form that it will finally resume. 
 
<a href="http://poetsandquants.com/wp-content/uploads/2014/02/10379313-54b8-4448-b3fa-367be8ac368bInfosys.jpg">Image source</a>

Infosys readying Diwali gift for its employees and it's
special this time!

<a href="http://www.businessinsider.in/searchresult.cms?query=vishal+sikka&amp;sortorder=effectivedate">Infosys CEO Vishal Sikka</a>’s pay package is at par with chiefs of global IT firms and other top level executives also rake in multi-million pay packages. 
 
While, Sikka’s annual <a href="http://www.businessinsider.in/searchresult.cms?query=salaries&amp;sortorder=effectivedate">pay package</a> was $7.45 million for the 2015-16, <a href="http://www.businessinsider.in/searchresult.cms?query=pravin+rao&amp;sortorder=effectivedate">operating chief UB Pravin Rao</a> took home around $1.4 million. 
 
Also, newly appointed CFO MD Ranganath earned $539,141 for the same financial year. 
 
In 2014-15, Rao received $1 million salary including other incentives such as bonuses, incentives and earnings from stock options. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=infosys&amp;sortorder=effectivedate">Infosys</a> increased the pay packages of top executives in a bid to retain key executives and also reward rainmakers. 
 Sikka was rewarded with a salary hike in starting of 2016 and his tenure was also extended after <keyword id="6354512" type="CITY" weightage="20" keywordseo="Infosys">Infosys</keyword> reaped fortunes and trumped rivals under his guidance. 
 
In 2017, Sikka will make nearly $11 million every year. As part of his old contract, Sikka made $7.08 million, including stock options. 
 
Meanwhile, former CFO Rajv Bansal, who quit Infosys in October 2015, earned $3.44 million.

Infosys’ top executives rake in multi-million dollar pay packages. Check out how much Vishal Sikka and others earn

<ul><li><keyword id="6354512" type="COMPANY" weightage="20" keywordseo="Infosys">Infosys</keyword> gave its employees 100% variable pay over the last three months and restarted the promotion process for junior level employees. </li><li>Over the next three months, the promotions process will also come in for senior employees along with any salary hikes. </li><li>However, Infosys CFO Nilanjan Roy highlighted that the new measures are likely to impact margins in the second half of the current fiscal year. </li><li>Infosys plans to add 16,000 freshers to its roster during the current fiscal and another 15,000 next year.</li></ul>Infosys has witnessed a stellar second quarter with a 16.2% jump in profits over the last three months. It’s rewarding its shareholders with an interim dividend of ₹12 per equity share and its reinstating wake hikes, promotions and other measures for employees. <div type="Article" hostid="261" msid="78659827" title="Infosys second quarter earnings deliver on all fronts led by highest ever deal wins worth $3.15 billion — raises annual guidance to 2% to 3%" mstype="2" mssubtype="0"></div> The impact of these measures, some rolled out between July to September, could already be seen in the company's voluntary attrition rate at 7.8%. "Attrition has come down dramatically due to more employee engagement during COVID-19," said Infosys COO Pravin Rao during the second quarter earnings call. Infosys added around 5,000 freshers and 2,500 new lateral hires to its rosters in the second quarter. According to Rao, the company is looking to add a total of 16,000 freshers overall during the current fiscal and another 15,000 next year. <div type="image" title="Copy of attrition rates it companies" msid="78660846" hostid="261" caption="&amp;lt;p&amp;gt;Infosys attrition rate drops to 7.8%, the lowest it&amp;#39;s been in at least the past three years&amp;lt;/p&amp;gt;"></div> Infosys rolls out incentives for employees In the second quarter, it has already doled 100% variable pay. Infosys’ junior employees were also awarded a one-time special incentive over the last three months. However, there is a flip side. These measures are likely to affect margins. “Going into the second half, some of these cost increases will now come back like wage hikes, promotions, hiring etc,” said Infosys CFO Nilanjan Roy. Even so, the company has increased in annual margin guidance to between 23% to 24% and hiked the annual revenue guidance to between 2% to 3%. Over the next three months, the salary increase process will be restarted for senior employees as well, effective from January 1, 2021. “I’m thankful to all our employees for staying deeply to serve our clients. They’ve navigated their own challenges associated with the ongoing coronavirus situation,” said CEO Salil Parekh. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/tcs-announces-16000-crore-buyback-strong-show-in-q2-with-over-20-rise-in-profit/articleshow/78536532.cms">TCS announces ₹16,000 crore buyback — strong show in Q2 with 7% rise in profit, margins near two-year high</a> <a href="https://www.businessinsider.in/stock-market/news/wipro-share-price-dips-after-earnings-report-analysts-believe-it-will-take-a-while-to-catch-up-to-tcs-and-hcl-technologies/articleshow/78654023.cms">Wipro’s share price dips by over 6% after earnings — analysts believe it will take a while to catch up to TCS and HCL Technologies</a> <a href="https://www.businessinsider.in/business/corporates/news/wipro-ceo-thierry-delaporte-outlines-five-point-strategy-for-growth-looking-at-more-acquisitions-and-larger-deals/articleshow/78643942.cms">Wipro CEO Thierry Delaporte outlines five-point strategy for growth — looking at more acquisitions and larger deals</a>

Infosys to reinstate wage hikes, promotions and hiring — will impact margins over the next six months

<ul><li><keyword id="6354512" type="COMPANY" weightage="20" keywordseo="Infosys">Infosys</keyword> temporarily froze hiring, promotions and appraisals in view of the <keyword id="1754604" type="PERSON" weightage="20" keywordseo="coronavirus">Coronavirus</keyword> pandemic. </li><li>It will onboard all the campus and lateral hires to whom they made job offers. </li><li>However, Pravin Rao, COO at Infosys, did not hint of any furloughs or layoffs. </li><li>The company said that all the 6,000 trainees will now continue their training remotely. “There are assessments, certifications and other online training to facilitate remote programmes,” Rao added. </li><li>Rao said that the company is planning to make more than 35,000 offers in FY21.</li></ul>Infosys, in its latest earnings call, said that it has temporarily froze hiring, promotions and appraisals in view of the Coronavirus pandemic, calling it a ‘no regret’ move. For IT giants wages, employee costs and campus placement drives make up for over half of its operational costs. ‘We will honour all offers made — freshers and lateral hires’ Infosys however said that it will onboard all the campus hires. With this, it joins the likes of Accenture, Tata Consultancy Sevices (TCS) and other tech giants who will honour all the job offers made in the last financial year. A large number of companies have rescinded campus job offers forcing even IITs to hold a second placement drive in late July and August. “We are yet to onboard only a small percentage of campus hires we made offers to so far,” said Pravin Rao, COO at Infosys. The technology multinational made 18,000 job offers the last financial year. It said it will also onboard the lateral hires. “We will honour all the commitments made to campus hires — freshers as well as lateral. As far as onboarding timelines are concerned, we have already hired a few lateral employees, while in lockdown,” he said during its Q4 earnings call. Employee count decreases by over 1,000 <div type="image" title="infy employees" msid="75253862" hostid="261"></div> There has been a decrease in the employee headcount — by over 1,000. The employee count at Infosys stood at 243,454 during the third quarter ending in December 2019 — higher than 242,371 as of March 2020. “We should not read into the fall in employee count, it is not a secular trend,” Rao said. He did not hint any furloughs or layoffs, given the Coronavirus chaos. Going forward, Rao said that the company is planning to make more than 35,000 offers in FY21. “In the near term, there will be a demand-supply mismatch because we were already geared for high volume in the first quarter. We have to ensure that the utilisation rates go up,” said Nilanjan Roy, CFO at Infosys. Remote assessment for nearly 6,000 trainees Infosys claims to have a strong digital footprint. The company said that all the 6,000 trainees will now continue their training remotely. “There are assessments, certifications and other online training to facilitate remote programmes,” Rao added. In fact, as much as 93% of the employees at Infosys are now working from home, thanks to the lockdown. The focus is on employee safety. “We will revisit as the situation evolves, keeping the safety of employees a priority. We will also take initiatives like temperature check etc,” the company said. However, as a new normal emerges after the lockdown ends, just like TCS, Infosys also plans to retain work from home. See also: <a href="https://www.businessinsider.in/careers/news/tcs-cognizant-capgemini-and-other-top-giants-who-are-not-letting-go-of-their-new-hires/articleshow/75136446.cms">TCS, Cognizant, Capgemini and other top giants who are not letting go of their new hires </a> <a href="https://www.businessinsider.in/careers/news/capgemini-india-cognizant-and-others-who-are-giving-salary-hikes-in-times-of-coronavirus/articleshow/75151960.cms">Capgemini India, Cognizant and others who are giving salary hikes in times of Coronavirus</a>

Infosys has a new 'no regret' policy when it comes to employees

(Eds: Adding details) New Delhi, Apr 20 () Infosys on Monday said its few employees globally have tested positive for COVID-19, and it has undertaken contact tracing measures to identify colleagues, who interacted with them, in order to ensure they are appropriately quarantined.However, the Bengaluru-based company - which announced its Q4 and FY20 earnings on Monday - said it will get employees back on premises in a staggered manner while following all protocols to ensure safety of staff amid the coronavirus pandemic."A few Infosys employees across the world have tested positive for COVID-19. The company is in touch with them and their families to provide active and continuous support to help them through the rest and recovery," Infosys said.The company added that it has undertaken contact tracing measures to identify colleagues, if any, who have interacted with them and ensuring that they are appropriately quarantined.With lockdowns effective in several parts of the world, Infosys said 93 per cent of its global workforce is now working from home and the company has a strong focus on ensuring security of client data.Infosys is approaching plans in the weeks ahead "with cautious optimism", while carefully monitoring advisories and adapting tactics to policies and injunctions in the cities, states and countries that it operates in."Our plan is to come back in a gradual manner, we are not in hurry to come back aggressively. In phase one, less than 5 per cent of employees will come back to work for 3-4 weeks. In the next 4-8 weeks, maybe it will become 15-20 per cent in a gradual manner. We will follow very high standards of safety, temperature check and social distancing," Infosys COO Pravin Rao said.He added that the company - which has over 2.4 lakh employees globally - is also exploring if it can set up testing facility.Infosys said it will honour the job offers it has extended to the markets, in order to enhance the skill-sets it can bring to recovery-focused client environments. However, promotions and salary hikes have been put on hold. Rao asserted that the company is not looking at any COVID-19-related layoffs "at this stage". He also noted that Infosys will make 35,000 job offers in FY21.Infosys CFO Nilanjan Roy said in the near term, there will be a demand-supply mismatch "because we were geared for high volume in the first quarter"."We have to ensure that the utilisation rates go up," he added. SR MBI BALBAL

Few employees globally tested positive for COVID-19, undertaken contact tracing steps: Infosys

<ul><li>Infosys plans on hiring 18,000 fresh graduates via <keyword id="121400" type="PERSON" weightage="20" keywordseo="campus-placements">campus placements</keyword>. </li><li>In 2018-19, IT giant hired around 8,000 employees — including 2,500 freshers. </li><li>Owing to the H1-B visa restrictions, the company hired 10,000 American locals in the US to sustain its operations. </li><li>The US accounts for 60% of the company’s overall revenue.</li></ul>Infosys — second largest software exporter in India — is planning to boost its workforce with aggressive campus placements drives. It plans to hire nearly 18,000 freshers during this financial year, according to reports. The technology major recruited 906 professionals during the first quarter. In the 2018-19, the IT giant hired around 8,000 employees — including 2,500 freshers. At present, Infosys has 229,000 employees across locations, ET <a href="https://economictimes.indiatimes.com/jobs/infosys-to-hire-18000-people-from-campuses-in-fy20/articleshow/70197777.cms?from=mdr">reported</a>. As on March 2019, Infosys added 228,123 employees, of which 214,727 were deployed in service delivery roles, the company’s annual report said. However, the company witnessed a rise in the attrition rate to 23.4%. The company offered over ₹10.2 million annual salary each to around 60 employees within the country. TCS also added 12,356 employees in the company during the first quarter of the financial year — its highest ever in the last five years. Global workforce expansion As fewer of its employees are getting visas to work in the US, Infosys also recruited 10,000 American employees by the end of June quarter. The US accounts for<a href="https://www.business-standard.com/article/companies/infosys-completes-localisation-target-for-us-hires-10-000-employees-119071400021_1.html"> 60% of the company’s overall revenue</a>. It is increasing headcount in the country after H1-B visa restrictions, Business Standard reported citing U B Pravin Rao, Chief Operating Officer. Infosys has over 2,200 overseas Indian employees making over ₹10 million annually. According to the US think-tank <a href="https://www.businessinsider.in/tcs-and-infosys-face-most-rejections-on-h1-b-work-visa-extension/articleshow/68316202.cms">Centre for Immigration Studies</a>, H1-B work visas applied for by TCS, Cognizant and Infosys faced the most rejections. See also: <a href="https://www.businessinsider.in/tcs-has-36-women-employees-in-the-workforce/articleshow/70190643.cms">TCS is running on women power, with over 150,000 permanent employees</a> <a href="https://www.businessinsider.in/usa-has-passed-a-bill-to-help-indian-it-professionals-get-permanent-residency/articleshow/70170952.cms">Indians can get permanent residency easily in the US, if the Senate clears the Bill</a> <a href="https://www.businessinsider.in/tcs-wipro-infosys-and-it-companies-hit-by-budgets-buyback-shares-tax-and-increase-in-minimum-public-shareholding/articleshow/70136810.cms">TCS, Wipro, Infosys and peers may have to review share buyback plan as the new budget may take a bite out of it</a>

After TCS, Infosys on a hiring spree — plans to add 18,000 freshers via campus placements

<a href="http://www.businessinsider.in/searchresult.cms?query=infosys&amp;sortorder=effectivedate">Infosys</a> said it has deferred <keyword id="110481" type="UNKNOWN" weightage="20" keywordseo="increments">increments</keyword> by July for senior employees. The appraisals can even be pushed further. In a letter to employees, <a href="http://www.businessinsider.in/searchresult.cms?query=pravin+rao&amp;sortorder=effectivedate">Infosys COO UB Pravin Rao</a> played down any fears of job cuts and said for employees at job level 5 and below, which means those having below eight years of experience, the compensation review will be effective from July. "I would like to put to rest any speculation around planned <keyword id="6357067" type="EVENT" weightage="20" keywordseo="layoffs">layoffs</keyword>. As has been the case in the past, we will primarily see some performance-based exits,” Rao said. Rao also addressed concerns over variable component of the salary, saying <keyword id="6354512" type="CITY" weightage="100" keywordseo="Infosys">Infosys</keyword> will try and ensure predictability at junior levels. He said the company had started cost-optimisation measures and some were discontinued following employee feedback that they were causing discomfort. "They have delayed the salary hike. They are also raising the cost of parking in the campus and facilities fees. So even if you get a hike, you will end up giving most of it back to the company,” an employee with Infosys told ET. Meanwhile<a href="http://www.businessinsider.in/searchresult.cms?query=tech+mahindra&amp;sortorder=effectivedate">, Tech Mahindra</a> has also delayed salary increases for employees with more than six years of experience. Presently, apart from delayed increments, IT professionals are also worried over speculations regarding huge <a href="http://www.businessinsider.in/searchresult.cms?query=layoffs&amp;sortorder=effectivedate">job cuts</a>. "The onset of automation and productivity means that if your performance is not good enough, then you are not really able to deliver values the company needs. The appraisals of the competencies of the people will certainly have to be rigorous in keeping with changing global standards,” R Chandrasekhar, president of <keyword id="6372077" type="CITY" weightage="20" keywordseo="Nasscom">Nasscom</keyword>, told ET in a recent interview.

You Searched For "pravin rao salary" and got 12 results

Infosys founders Vs board: Here’s what CEO Vishal Sikka said in COO Pravin Rao's defence

BI India Bureau

Murthy says 60%-70% compensation hike to COO grossly unfair to Infosys employees. Read his full letter here

BI India Bureau

Salaries of Infosys’ top executives take a hit. This is how much the COO will earn now

BI India Bureau

Infosys CEO Vishal Sikka rakes in $7.45 million in salary this year

BI India Bureau

Only 400 people asked to leave, will hire 20,000 this year: Infosys

BI India Bureau

Infosys readying Diwali gift for its employees and it's special this time!

BI India Bureau

Infosys’ top executives rake in multi-million dollar pay packages. Check out how much Vishal Sikka and others earn

BI India Bureau

Infosys to reinstate wage hikes, promotions and hiring — will impact margins over the next six months

Prabhjote Gill

Infosys has a new 'no regret' policy when it comes to employees

Prerna Sindwani

Few employees globally tested positive for COVID-19, undertaken contact tracing steps: Infosys

PTI

After TCS, Infosys on a hiring spree — plans to add 18,000 freshers via campus placements

Prerna Sindwani

Appraisals of Infosys’ senior employees delayed by July; no layoffs on cards

BI India Bureau

Popular Keywords

Buying Guides