Amid the COVID-19 crisis, India's second largest software services firm Infosys said that it will announce its financial results for the July-September quarter on October 14.
Also, Infosys CEO Salil Parekh stated that the firm has started to take some decisions on promotions and salary hikes for some employees and will review it by the end of the current quarter. The quarter results end in September.
Recently, when Infosys CEO was asked if employees can expect promotions and salary hikes soon. Parekh said, "We had an extremely high variable pay number last quarter, and will continue with that approach. We started to make some decisions for different levels of employees within the company on promotions as well as changes in salary."
"All of that will be looked at through this year as the economic environment around us both worldwide and in India starts to see improvement- we want to make sure it is done with conjunction with that so that all employees and hard work is also rewarded," he added.
Further replying on the decisions being made by the end of the quarter, Infosys CEO claimed that, "All of those will be looked at carefully at the end of each quarter- some groups of people will start to see results of that. The same way we look at the interests of clients, we are making sure that all employee interests including how we dealt with variable pay in the first quarter will be dealt with in the best possible way."
According to a Times Now report, Infosys had given variable pay hikes to its employees during the first quarter of the year. Amid the crisis in April 2020, Infosys said it had suspended hiring, promotions and salary hikes in an effort to control costs. But it said it would honour all the job offers that had already been made.
The company only began onboarding freshers in the July-September quarter and will complete the entire process by the end of 2020, Times Now further reported.
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