Infosys freezes recruitment, to trim salaries

Posted By: Staff
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Bangalore, Feb 9: T V Mohandas Pai, Infosys Technologies Director for Human Resources said company is freezing recruitment and is planning for pay cuts as the revenues are down due to global economic crisis.

"A part of our salary is determined by variable sales component, which is the percentage of the company's revenue," said Infosys' director for human resources T V Mohandas Pai. "Since the revenues are down, the salaries will naturally be trimmed," he added.

Pai further said that Infy may even opt out of salary hikes because of the global slowdown. "The increments may not happen this year. But, if they do, they will be subdued."

Infosys will honour the 20,000 campus offers made in 2008, but added that fresh hiring has been frozen.

India's second largest software exporting firm, had reported a net profit of Rs 16.41 billion ($333.5 million) for the third quarter of the current fiscal, attaining 33 pc year growth. The results were above expectations, but below what it had logged in past decade.

Pai while speaking about Satyam scandal said that Infosys had received offers from some customers of the rival group, which were being analysed. "Our chief executive officer (K Gopalakrishnan) had earlier made an announcement that we have received offers from Satyam customers," he said, adding: "But we do not go and poach on customers."

OneIndia News (With inputs from Agencies)

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