Infosys Promotes 2,000, Gives 100% Variable
It has also increased variable payouts for the July-September quarter to 100 per cent from 80 per cent.
India’s second-largest software exporter promoted 2,067 employees and since the current financial year started in April, so far given 4,711 promotions, a company spokeswoman said.
The promotions and variable payouts come at a time when Infosys is attempting to counter attrition, which crept up in the September quarter. While annualized standalone attrition stood at 14.1 per cent for the quarter, consolidated attrition was 19.9 per cent.
On Monday, when Infosys reported its results, on a conference call with investors, outgoing CFO Rajiv Bansal said the IT giantâ€™s margins benefited from a weaker rupee during the quarter.
During this financial year, Infosys plans to hire about 20,000 from campuses COO UB Pravin Rao said during the same investor call. In terms of compensation increase, their packages could be around Rs 3.25.
Despite posting forecast-eclipsing numbers, the company maintained its revenue guidance on constant currency leading to Infosys shares closing at around 2per cent lower at Rs 1,098.65 on the BSE, on Tuesday.