- Infosys paid an average performance bonus of 70% to eligible employees for the April-June quarter, unchanged from the previous quarter but 10 percentage points lower year-on-year, ET reported.
- The payout ranged between 65% and 80% across employee levels, with higher levels (JL4 and JL5) receiving more than JL6.
- Infosys reported results that missed analyst expectations and cut the upper end of its annual guidance.
- The payout came as the technology sector faced slower discretionary spending, macroeconomic uncertainty and disruption from advances in AI.
- It was less than the 80 percent it paid for the same period last year, as IT companies continued to navigate macroeconomic volatility and low revenue environment.
- The percentage payout was the same as the fourth quarter, indicating that challenges continue to persist and the current financial year is more difficult than the last.
- Infosys said it will provide salary hikes to its employees in October and January.
Infosys has reported a variable pay of 70% for Q1, unchanged from the previous quarter but down from 80% a year ago. This payout reflects ongoing challenges in the technology sector, including slower discretionary spending and macroeconomic uncertainty.
The payout range varied from 65% to 80% across different employee levels, with higher payouts for those at job levels 4 and 5 compared to level 6.
Despite maintaining the same percentage as the fourth quarter, the company is navigating a low revenue environment and has recently reported results that missed analyst expectations. Additionally, Infosys has cut the upper end of its annual guidance, indicating a more challenging financial year ahead.
Looking forward, Infosys plans to implement salary hikes for its employees in October and January, aiming to address employee concerns amidst the current economic climate.
“The payout ranged between 65% and 80% across employee levels, with higher levels (JL4 and JL5) receiving more than JL6. Infosys also cut the upper end of its annual guidance after results missed analyst expectations, and plans salary hikes in October and January.”
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