According to Money Control reports, at Nasscom Technology and Leadership Forum Narayana Murthy Infosys co-founder has said that Infosys top executives took a pay cut during the 2001 dot-com bust.
And we honoured all the job offers and onboarded all 1,500 freshers. However, now many IT companies including Tech Mahindra, Capgemini, Accenture, Mphasis, and Mindtree have been delaying the onboarding of freshers.
According to various media reports, the CEO’s salaries are increased drastically in the past couple of years in comparison to that of freshers.
Narayana Murthy’s view comes in the middle of time, when recently Wipro asked its fresher employees for a salary reduction by 50 percent from Rs 6.5 lakh to Rs 3.5 lakh per annum.
Wipro said in an email to candidates, “Like others in our industry, we continue to assess global economies and customer needs, which factor in our hiring plans. Currently, we have project engineers’ roles available for recruitment with an annual compensation of Rs 3.5 lakh.”
The company went on to tell these candidates, “If you choose to accept this offer, all previous offers will stand void. We encourage you to grab this opportunity as it is time-bound.”
Recently, Narayana Murthy also shared and advised youngsters not to fall into the trap of working from home and moonlighting.
He also said that as the country is growing and youngsters should work from the office instead of working from home. He also warned youngsters about moonlighting.
Mr. Murthy also added India and China were of the same size in the late 1940s. Now, China has grown to be six times the size of India due to the culture it has imbibed.
He further said, “Anybody who has told you that work ethics are not important, hard work is not important and laziness is good, they are not your well-wishers,” Narayana Murthy said in the report.
Regarding the freshers’ layoff, Wipro sacked 452 fresher employees due to poor performance. Infosys has fired 600 freshers after they fail an internal assessment test.