: Employees Get Up To 25% Increase In Pay
At a time when the IT sector is facing headwinds, Infosys has given 10-13 % salary hikes to a large part of its employees.
The top performers received increments in the range of 20-25 %, according to a livemint report.
It would vary between 10 per cent and 13 per cent, and in some cases, top performers have got 20-25 per cent,
" the report quoted Krish Shankar, executive vice president.
Specialist staffing firm Xpheno said that as the Indian IT industry, which saw crazy salary hikes and bonuses recently.
Big tech companies, including TCS, HCL Tech and Wipro, are also slowing down on hiring and have also frozen it.
IT services cohort has witnessed a 41 per cent decline in hiring action since April 2022, according to data from Xpheno.
Tech startups have slowed their hiring by 63 % and the software products cohort has dropped hiring action by 58 %.
The data suggest an overall drop of 60-70 % in the number of offers chasing talent.
Experts say the primary reason for high attrition is that the growth opportunities are now relatively lesser in the IT sector as compared to other sectors.