variable pay, infosys variable pay
AgenciesInfosys employees will get 65% variable pay for the July-September quarter. This will be done in the November payroll cycle for all eligible employees, according to an internal mail.
“The average payout at an organization level is 65% for Q2FY23. Individual payout percentages will differ based on individual performance and contribution for the quarter,” the company said in an email on Wednesday. ET has reviewed a copy of the email.
For employees in the United States and Canada, the payout will be processed along with the second biweekly November payroll.
Direct communication to the employees about the variable pay will be sent on November 17. Infosys did not respond to ET’s email seeking comment till press time Wednesday.
The July-September quarter’s variable pay percentage is lower than the 70% variable pay on average it had given to employees for the April-June quarter. Infosys had then said that this was due to pressure on operating margins.
The Indian IT industry is staring at an uncertain demand environment with an impending recession in its key market – United States – while also battling a squeeze on margins due to issues such as high employee attrition.
India’s largest software services firm by revenue Tata Consultancy Services (TCS) has said that it will give 100% variable pay for 70% of its employees for the quarter. The rest of the employees will be given variable pay based on their business unit’s performance.
Infosys’ crosstown rival Wipro has also paid 100% variable pay for th eJuly-September quarter up to team leader levels.
Bengaluru-based Infosys, the country’s second largest software exporter by revenue, had given out 60% variable pay on average for certain levels of its business process management (BPM) employees for the quarter ended September 30, ET reported earlier this month.
It had paid out for J4 to J6 levels – systems engineer to project manager levels, Et reported citing an email sent to the respective band of BPM employees.
Infosys has over 50,000 BPM workers worldwide, with most operating out of India.

TECH NEWS RELATED

TikTok EU ban on the table if social network doesn’t comply with new laws

TikTok is one of the most popular social networks out there. But TikTok is also a cause of concern for western governments that worry about the company’s ties to the Chinese government. TikTok can’t run on most devices the US government issues, and there has been talk of a ...

View more: TikTok EU ban on the table if social network doesn’t comply with new laws

Don’t Buy a Foldable Until Samsung Brings This Prototype to Life

Samsung Display via The Verge The world of foldable phones is surprisingly stagnant. The Galaxy Z Fold gets a tiny little upgrade every year, and rival phone brands loosely copy Samsung’s homework. But a new Samsung Display prototype called the “Flex In & Out” could turn this narrative on ...

View more: Don’t Buy a Foldable Until Samsung Brings This Prototype to Life

Best free sports streaming apps in 2023

Cutting the cord on cable television is something tons of people have done over the past five years. But that hasn’t proven to be the smartest way to continue to watch sports. Whether it comes from premium sports website subscriptions to keep tabs on your favorite players, or even fantasy ...

View more: Best free sports streaming apps in 2023

Avengers 5 might have Ant-Man in it, Quantumania star teases

The first MCU Phase 5 movie will be Ant-Man and the Wasp: Quantumania, the third installment in the Ant-Man franchise and a film with much higher stakes than the previous episodes. The sequel will deliver the MCU’s first Kang (Jonathan Majors) villain after we met a somewhat good He Who ...

View more: Avengers 5 might have Ant-Man in it, Quantumania star teases

Sharing a Netflix Account? Get Ready to Pay For It

DANIEL CONSTANTE/Shutterstock.com Netflix is about to get serious in its efforts to eliminate freeloaders. If you share a Netflix account with family or friends outside your household, get ready to pay for it. A new “paid sharing” system could roll out starting next month, and you’ll have to pay a ...

View more: Sharing a Netflix Account? Get Ready to Pay For It

‘7 Wonders’ Board Game Gets a New ‘Edifice’ Expansion

Asmodee and Repos Production Board game lovers have a wonderful reason to celebrate today. Board game makers Asmodee and Repos Production announced their latest collaboration: 7 Wonders Edifice, an expansion to the popular board game 7 Wonders. The game launches on February 24th for $29.99. 7 Wonders: Edifice adds ...

View more: ‘7 Wonders’ Board Game Gets a New ‘Edifice’ Expansion

T-Mobile Kicks Off 2023 With Another Data Breach

r.classen / Shutterstock.com In a press release, T-Mobile confirms that it detected a data breach in its systems on January 5th. A “bad actor” managed to steal personal information (but not financial data) from around 37 million customers. This is the eighth T-Mobile data breach since 2018. The hacker ...

View more: T-Mobile Kicks Off 2023 With Another Data Breach

Apple appeals to UK competition watchdog investigation about mobile browser dominance

Apple has filed an appeal against the UK’s competition watchdog regarding its dominance of mobile browsers in the cloud gaming market, reports Reuters. The Competition and Markets Authority started investigating this dominance by the Cupertino firm and Google. Lawyers representing Apple believe the investigation should be reviewed as CMA ...

View more: Apple appeals to UK competition watchdog investigation about mobile browser dominance

Galaxy S23 Ultra release date and specs leak finally reveals everything about the new model

WhatsApp for iOS rolling out the ability to create a chat with yourself

Amazon Prime Music Unlimited changes streaming prices, now matches Apple Music

Deadpool 3 and Secret Wars to feature Fox’s X-Men, according to Marvel insider

Report: OLED iPad Pro still on track for 2024 release, 2026 for MacBook Pro

How to negotiate over practically anything

HomePod 2 praised in exclusive hands-on before launch

M2 Pro MacBook Pro Amazon preorder deal gives you $50 off

What “choice” means for millions of women post-Roe

Singapore FinTech firm Pilon secures $5.2M seed funding led by Wavemaker Partners

Capital Square Partners and Basil Technology team up for $700M tech fund in Asia

This feel-good movie about man’s best friend is dominating Netflix

OTHER TECH NEWS

Top Car News Car News