Infosys, India’s second-largest IT services company, has reportedly deferred salary hikes for its employees below the senior management level, which are typically rolled out from April.
This decision is seen as another sign of the stress companies are under in the current macroeconomic climate, as they face project ramp-downs or cancellations.
Multiple employees have confirmed to Moneycontrol that they have not received their pay raises that usually come in the June quarter (Q1). They also reported that they have not received any communication about the delay or when they might expect their pay increases.
Senior Management Pay Hikes
Infosys typically rolls out pay hikes for its senior management in July. However, as of now, they too have not received any communication regarding the same. It remains unclear whether their pay hikes have also been deferred, the report said.
Previous Pay Hike Freeze
Infosys had previously frozen pay hikes in 2020 due to the need for cash conservation amid the pandemic. The company then rolled out pay hikes in January 2021.
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