Infy Employees get Promotions and 100% variable Payouts
India’s second largest software promoter, Infosys, recently heaped awards on its top performing employees. The company has bestowed 2067 employees with promotions after posting great second-quarter numbers following a below par performance from larger rival TCS. The company also increased the July-September variable payouts to 100% from 80%. It had last handed out 100% payouts in the December quarter. The company decided to reward its employees after the attrition rate crept up in September.
According to a company spokeswoman, the company has so far given 4711 promotions since the current financial year started in April, including more than 2600 since the quarter ended in June. UB Pravin Rao, COO said that the company is planning to hire 20,000 from campuses during this financial year.
Industry pundits praised Infosys’s brilliant second quarter performance saying that the company is starting to resemble its former self.