This is the end of our coverage on the Infosys analyst meet. Thank you for staying tuned. Your continued readership motivates us to provide you with news of the highest factual consistency.
This is the end of our coverage on the Infosys analyst meet. Thank you for staying tuned. Your continued readership motivates us to provide you with news of the highest factual consistency.
Pravin Rao: Periodically, we keep a check on involuntary attrition at the mid and senior level who are unable to scale up. We have invested a lot in the reskilling and upskilling of our employees. It does not make sense for us to let go of people as mentioned in the report.
Rao is referring to areport on the IT giantlaying off nearly 10 percent of its senior-level staff and between two to five percent of associate and mid-level employees. This would come to around10,000 employees at the mid and senior level..
UB Pravin Rao, COO of Infosys, said: The lay offs media report is mere speculation and there are no plans to lay off people like the reports mentioned.
The Whistleblower Protection Act, 2014 lays down a set of rules to protect whistleblowers who attempt to expose any wrongdoing in the bureaucracy. It was tabled and passed by the Lok Sabha in 2011, and finallybecamean act of Parliament after a delay of over three years, in 2014.
According to fund managers,Infosys'whistleblower letter largely dented returns of IT funds last month.
Shares ofInfosysgained 3.7 percent intraday on November 6 after co-founder Nandan Nilekani said the company was committed to defining and following the highest corporate governance standards.
Nilekani said he felt "insulted with the (whistleblowers) accusations.” But said he does not want to bias the investigation.
Nilekani said that contrary to what was being reported, the company had responded responsibly and complied with applicable laws and past practices.
Nandan Nilekani: Even God can't change numbers of Infosys.
Nandan Nilekani: Will respond to class action lawsuit in due course.
Nandan Nilekani: Large margin deals is entirely decided by the management and management is fully within its right to take those calls about margins.
Nandan Nilekani: Company's deal flows continue to be as large as ever.
Nandan Nilekani: Proactively reached out to customers and happy that customers are trusting us. Even today morning Salil forwarded me a large deal.
