Infy corrects media
In April, 2012, Infosys sent shock waves among its workforce by announcing that most rank and file would not get any salary hikes. Also, that this year only 6000 people would be added to the Infosys workforce as compared to the 19,000 recruited last financial year.
More recently, it came to light that Infosys would be giving as much as 50 percent increases to its senior most management. Not surprisingly, there was a hue and cry in mainstream as well as social media.
Infosys has issued the following statement on May 15, 2012 to ‘correct’ news reports about its senior staff getting huge hikes. Note that the Infosys statement released to media is high on rhetoric but low on facts and figures of the double digit salary hikes given to some deserving employees.
The senior management team is the first to get negatively affected if the company does not meet its expected growth numbers. Most of the executives, who were with the company for the year ending March 2012, have either seen their total compensation go down or at most received a single digit increase. In the same period deserving employees in India received double digit percentage salary increases.
Also, the reported compensation data is part of our statutory financial filings. It pertains to last year, that is, fiscal year 2012 and how it compared with the fiscal year 2011. Salary hikes have been postponed for fiscal 2013 for the Infosys senior management just like the rest of the organization. Infosys leadership has always led by example and will continue to do so. Reports implying otherwise are merely attempts at creating sensational headlines out of partial truths.
- Infosys press release
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