Infosys suspends hiring, promotions, and salary hikes

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Infosys to start work for its IT hub in Kolkata
PTI | The project will generate massive employment in the IT sector, chief minister Mamata Banerjee said after a cabinet meeting at the state secretariat.

Infosys Ltd, India’s second-largest IT company has suspended new hirings, promotions, and increments for FY21 to control costs in the wake of COVID-19. However, the company said it will honour all job offers already made.

“Infosys intends to not only nurture its vast pool of digital talent in a high-productivity environment, but also honour the job offers it has extended to the markets, in order to enhance the skill-sets it can bring to recovery-focused client environments,” the Bengaluru-headquartered company said in a filing to exchanges.

U B Pravin Rao, Chief Operating Officer of Infosys said, “In terms of hiring, we will honour all our commitments in terms of campus hires and laterals. There will be no COVID-related lay-offs. However, involuntary attrition that is performance-based (will go on).”

“Obviously, we are not looking at furloughs. But we are also looking at other things to optimize cost.” Rao added.

On replying to the questions on joining of new hires he said, the on-boarding of freshers would be staggered while the same was an on-going process for laterals. Infosys had handed out 35,000 offers in FY20.

Last week, TCS and Wipro have also announced that they will not give any salary increment or promotion this year, owing to business uncertainties.

The company also said that a few of our employees across the world have tested positive for COVID-19, we are in touch with them and their families. Infosys has also undertaken contact tracing measures to identify colleagues, if any, who have interacted with them.

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