This comes less than two weeks after Infosys' former CFO, Nilanjan Roy, suddenly resigned.
Jayesh Sanghrajka has been appointed as the new CFO effective from April 1
Employees who fall below the manager category and above entry levels will be eligible for this range of payout
The company used to give hikes to everyone below the senior management in April, and to those above in July
CEO Salil Parekh said they see clients stopping or slowing down transformation programs and discretionary works — particularly in financial services in mortgages, asset management, investment banking and payments and in telecom.
The IT major, which only reports the total contract value (TCV) of its large deals, reported a TCV of $2.3 billion, which is up from last quarter’s $2.1 billion.
TCS, HCLTech, and Infosys' net additions fell sharply year on year in Q4FY23, with only 884 employees added on a net basis compared to 68,257 in Q4FY22.
The roles of Ravi Kumar S, who exited the company in October last year, were primarily split between Sathish HC and Dinesh Rao
Infosys also saw a one-time impact on revenue, according to the company's leadership.
The company had set a target of hiring 50,000 freshers at the beginning of FY23, and has not revised the same.
During the third quarter of the 2023 fiscal year, the company added 1,627 employees, a decrease from the previous quarter. With this, Infosys' headcount stands at 3,46,845 as of December 31, 2022.
Infosys’ move to reduce payout comes days after its rivals such as TCS and Wipro deferred or reduced variable payouts for the April-June quarter in a bid to defend margins.
Ep.2 podcast of PwC presents 'ESG - A bridge to action', in association with Moneycontrol, where Nisha Poddar discusses the role of governance in ESG with top business leaders.
Nilanjan Roy, who was the global chief financial officer with telecom company Bharti Airtel Ltd, will join the Bengaluru-headquartered Infosys on March 1, 2019.
According to the latest TimesJobs RecruiteX Report, recruitment activity slowed down by 2 percent in October mirroring global employment trends.
The findings of the 'Job Satisfaction 2016' survey by TimesJobs.com revealed that 60 percent employees are not satisfied with their current job, while 80 percent said they are looking to switch jobs.
According to a TimesJobs Study on gender diversity in India, around 40 percent organisations anticipate more female employees, while just 5 percent expect a rise in women leaders in CXO positions.
Nilanjan Roy succeeds Srikanth Balachandran, who is being appointed as the Global Chief Human Resources Officer, Bharti Airtel said in a statement. Balachandran had been the Global CFO of Bharti Airtel since April, 2011.
The company also announced termination of its controversial 3G intra-circle roaming agreements with Vodafone and Idea in various circles, except Kerala, by the end of 2015-16 fiscal.