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:

Aviation

REUTERS SHOWCASE

Global Economy

Global Economy

EU leaders agree investment package to boost economy.  Full Article 

Oil Prices

Oil Prices

Brent steady below $60, heads for 4th weekly decline as oversupply persists.  Full Article 

Chinese Economy

Chinese Economy

China revises up size of economy in 2013 by 3.4 percent.  Full Article 

Reuters Exclusive

Reuters Exclusive

Google aiming to go straight into car with next Android – sources.  Full Article 

Reuters Poll

Reuters Poll

BSE Sensex to hit 32,980 by December 2015  Full Article 

Reuters India Mobile

Reuters India Mobile

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