Infosys employees shocked, company reduced variable pay by 70 percent for the first quarter.

Infosys: India’s second largest IT company Infosys has given a blow to its employees. In the second quarter of the current financial year, the company is reducing the variable pay given to its employees. According to information received from media reports, the country’s second largest software service provider Infosys has reduced the variable pay to about 70 percent.

It is worth noting that before Infosys, Wipro and Tata Consultancy Services have also cut the variable pay given to the employees. And now in this episode, Infosys has also cut the variable pay of its employees. According to the news coming in the media, the company has also informed its employees by mail in this regard. Significantly, Wipro Investments and Tata Consultancy have postponed quarterly variable pay for a month.

According to the information received from the sources, Infosys has reduced the variable pay to 70 percent in the first quarter of the financial year. Significantly, Infosys has registered a growth of 3.2 percent less than the estimated cost last month. At the same time, the employees have been disappointed due to the cut in the company’s variable pay.

Earlier, while giving information about the results of its April-June quarter, Infosys had said that its profit was more than Rs 5 crore in the same quarter a year ago. At the same time, the company’s revenue grew by 23 percent in the June quarter as well.