Infosys Salary Pay Cut News: May cut variable Pay: Finance Trading Times

Infosys Salary Pay Cut News: May cut variable Pay

As India wakes up today, the news of one of the biggest IT companies of India will be making the headlines. It is learnt that IT major Infosys may go for a pay cut or salary cut or variable pay cut very soon. This news might be a shocker to hundreds of thousands of IT employees across India, as big companies like Infosys and TCS are the ones which set the benchmark for the rest of the IT industry of India.Infosys Pay Cut

What is more significant to learn is that the pay hike for almost all of the Indian companies is given in the month of March April. Now, the pay hike time coming close, and major companies like Infosys reported to be going for a possible variable pay cut, it does mean a cause of concern not only for the employees of Infosys, but also for the rest of the IT companies of India.

Higher Management at various IT Companies of India simply keep on quoting examples of the so called "Market Trends", basically meaning the acts done by the IT biggies like Infy and TCS, etc. If these big guys go for a salary cut, it will have long lasting ripple effect in the rest of the IT companies of India.

So employees, be prepared for the bad experiences, if at all they are suppose to come.
As per the news on IndiaTimes, The country's second-largest IT company has reportedly warned that it may cut employee bonuses and compensation packages in the months ahead as the global meltdown strains its revenues.
Company's CEO, Kris Gopalakrishnan told a business daily recently that the current year is expected to be very muted in terms of increase in salaries, bonuses and promotions

It is also learnt that Infosys is going to be very strict in terms of performance, and has put the bottom 5% of the employees under tight scanner. Out of a total workforce or total no. of employees at 100,000, nearly 5000 have been put under the scanner. Media reports also suggest that the company has asked senior managers (project managers, senior and group project managers, delivery managers) to give lowest performance rating (4 on a scale of 1-4) to the 'underperforming' 5 per cent as a part of its consolidated relative ranking (CRR).
Now, let's see how the other company "Smart" management go for "Borrowing Best Practices" from Infosys and what is there in the pack for the IT employees, especially those of Infosys.
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