Infosys plans pay hikes in October - paper

MUMBAI Thu Sep 24, 2009 9:31am IST

An engineer works in the control room at Infosys Technologies campus atElectronics City in Bangalore in this January 20, 2003 file photo. REUTERS/Pawel Kopczynski/Files

An engineer works in the control room at Infosys Technologies campus atElectronics City in Bangalore in this January 20, 2003 file photo.

Credit: Reuters/Pawel Kopczynski/Files

Related Topics

MUMBAI (Reuters) - India's second-largest software exporter Infosys Technologies plans to give pay hikes and promotions next month, the Economic Times reported on Thursday, citing a senior company official.

Infosys has begun a performance appraisal process, and joins rivals including Tata Consultancy Services, Wipro and Cognizant in lifting wage freezes as industry growth prospects improve, the paper said.

"Yes, we are giving hikes this October. It will happen across the board," the paper quoted Nandita Gurjar, Infosys' group head for human resources as saying.

Infosys, which counts Goldman Sachs and Philips Electronics among its clients, could not be immediately reached for comment by Reuters.

The company had skipped the promotion cycle in April as employee utilisation and billing rates were low, but a rise in utilisation rates has made it decide to reward staff, Gurjar told the paper. Infosys has a staff strength of more than 100,000.

Infosys's salaries bill is estimated at 45-46 percent of sales, the paper said. In July, Infosys forecast consolidated revenue to fall 3.1-4.6 percent to $4.45 billion to $4.52 billion in the year to March 2010, its first annual decline.

This month, Infosys Chief Operating Officer S.D. Shibulal told reporters that pressure for price cuts had eased, but the business environment remained challenging as clients were cautious in spending.

(Reporting by Prashant Mehra; Editing by Anshuman Daga)

(For more news on Reuters Money click www.reutersmoney.in)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Everest Tragedy

Everest Tragedy

Search ends for missing on Everest, some Sherpas call for shutdown.  Full Article 

Ukraine Crisis

Ukraine Crisis

Deadly gun attack in eastern Ukraine shakes fragile Geneva accord.  Full Article 

Hamilton Wins

Hamilton Wins

Lewis Hamilton wins Chinese GP in Mercedes one-two.  Full Article 

Monte Carlo Masters

Monte Carlo Masters

Wawrinka beats Federer to win Monte Carlo Masters.  Full Article 

Happy Easter

Happy Easter

Pope presides at Vatican Mass leading Catholics into Easter.  Full Article 

Box Office

Box Office

'Captain America' soars again, tops 'Rio 2' to win U.S. box office.  Full Article 

Bollywood

Bollywood

Movie Review: 2 States.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage