The salary hikes of Infosys employees below the senior management level have been deferred.
Infosys pay hike: Employees at India’s second largest tech firm Infosys have been waiting for the salary since the end of the financial year. The salary hike of Infosys employees below the senior management level has reportedly been deferred. Several employees of Infosys have confirmed that their pay hikes have been delayed and the company has not informed them of the same.
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Infosys Salary Hike Latest Update
Infosys generally rolls out salary hikes for employees who are below the top management level in April but the employees have not received it till now. The salary hikes of employees below the senior management level have been delayed and they have not received any update from the company on when they will receive their pay raise, according to a report by Moneycontrol.
The salary hikes of employees at the senior management level are released in July but there has been a holdup in that front too. The company has shared no update on their salary hike as well.
In April, Infosys Ltd said it had closed FY23 with a higher net profit of Rs 24,108 crore. The company said it had earned a revenue of Rs 146,767 crore for FY23 against Rs 121,641 crore in the previous year and a net profit of Rs 24,108 crore against Rs 22,146 crore in the previous year, according to a report by news agency IANS. The company closed the fourth quarter of FY23 with a revenue of Rs 37,441 crore (previous year Rs.32,276 crore) and a net profit of Rs 6,134 crore (Rs 5,695 crore).
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Infosys launched Topaz — an AI-first set of services, solutions and platforms using generative AI technologies to empower global firms in May, the company said. Topaz helps amplify the potential of humans, enterprises and communities to tap into the next generation of opportunities to create value from unprecedented innovations, connected ecosystems and pervasive efficiencies.
Infosys said Topaz was developed using its own applied AI framework to develop an AI-first core to power business, delivering cognitive solutions and intuitive experiences that revitalise growth. It potentially has more than 12,000 AI use cases, over 150 pre-trained models and more than 10 platforms.
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“Infosys Topaz is helping us amplify the potential of people — both our own and our clients. We are seeing strong interest from our clients for efficiency and productivity-enhancing programmes, even as businesses are keen to secure their future growth,” said Salil Parekh, CEO & MD, Infosys, in a statement.
