Sensing a tough year ahead, Infosys Technologies has decided to freeze wage hikes and hiring for fiscal 2010 and maintained that it would honour all campus offers made last year.
Director for Human Resources T.V. Mohandas Pai, told “Employees will not get salary hike or promotions this fiscal. At the same time, there will be no cut”. He also added “The increments may not happen this year. But, if they do, they will be subdued”.
Infosys, India’s second largest IT firm, had reported a net profit of Rs.16.41 billion ($335.5 million) for the third quarter of this fiscal, to log a 33 percent year growth. The jump was above expectations but below what it had logged in the past decade.
On the firing front, the global software major will not make any fresh offers this fiscal, but honour the appointment letters given in the last fiscal to about 18,000 people, including 16,000 freshers and 2,000 laterals. About 1,000 laterals are being hired overseas.