Pay raise at Infosys
Infosys, the second largest software services company in India, has announced a pay raise and promised promotions at all employee levels as Infosys beats their long term rivals: Wipro and TCS. Infosys has had a better revenue than that of TCS and Wipro.
Infosys promises a 100% special incentive and variable pay to Junior Employees for the second quarter. In business usually salary increases are put into effect from April of each and every year but due to the pandemic and the sharp decline in trade all over the world, salary increases and promotions were stagnant and were rarely put into work.
Infosys observed a hike in their revenue for Q2 but TCS and Wipro both saw revenue falling at the rate of 3% and 3.4% for the latter.
On a metered notice the net profit was seen as up to 15% to $653 Million and revenue saw a hike of 3.2% to $3.3 Billion. The Digital revenue is reported to be growing at 25% year over year and also represents 47% of the topline of the Company.
The company's ARD (American Depository Receipts) has seen an upliftment of 5.5% in the morning trade on the New York stock exchange.
Infosys is lead by CEO Salil Parekh and he will be completing three years in office in January 2021.
CEO Salil Parekh has said "We will cross the 50% mark soon." in regards to the growth of Infosys in the Q2.
Business had seen a great decline and investors had faced a huge dip because of the global COVID-19 pandemic. Infosys coming out as a great winner has shown the skills of CEO Salil Parekh as a great leader.
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