INFOSYS DELAYS PROMOTION, SALARY HIKE & SHARES NEW UPDATE ON NEW JOB OFFERS! 

Amid the deadly coronavirus outbreak and crisis, IT firm Infosys has temporarily suspended hiring, promotions and salary increments. They said pressure on margins could be visible in near term and also the firm would honour all new job offers.

Meanwhile, the CEO Salil Parekh said the company is seeing increased client interest in cloud services. However, Infosys CFO Nilanjan Roy, stated that the company has stopped hiring, promotions and salary hikes to manage the damage caused by the pandemic.

"Infosys will honour all hiring commitments it has made," said Roy. Further talking about the most affected areas, Roy said that retail, travel and hospitality, energy and oil segments have been worst affected.

Later giving hope to employees over layoffs, COO Pravin Rao claimed that the firm is not looking at any Covid-19-related layoffs "at this stage". “We are in no hurry to get employees back to offices. Our first phase of returns, when it happens, will likely get 5 percent employees returning, and in the next phase will total about 15 percent," he said.

Rao said, that the company will make 35,000 job offers in Financial Year 2021. "Considering the business uncertainty emanating from Covid-19, the company is unable to provide guidance on revenues and margins for FY21 at this stage. The company will provide guidance after visibility improves," the company said in its stock exchange filing. 

"While the immediate short-term will be challenging, looking ahead, we can see that there is a strong interest to consolidate with partners with high-quality and agile service delivery and strong financial resilience. I am confident we will emerge from this stronger," he added.