NITES Raises Concern Over Unethical Pay Cuts Done By Infosys
Manisha Swain
Pune, 2nd November 2022: The Nascent Information Technology Employees Senate (NITES) has raised concerns over the unethical pay cuts of employees done by Infosys. Infosys has reduced the variable pay of employees by 40%.
In an email to one of their employees, the CnB team of Infosys said, “Performance Bonus forms an integral part of the compensation philosophy at Infosys BPM, and we reward an employee’s individual performance and contribution through the quarterly Performance Bonus.”
It further said, “The actual payout percentage is based on your differentiated performance level and recommendations made by the Senior Management from your business unit/function as per the guidelines recommended by the organization.”
Following this, Harpreet Singh Saluja
President, Nascent Information Technology Employees Senate (NITES) said, “The company at their will is reducing the variable pay component of employees without giving any reasonable cause. On one side the employees are struggling with inflation and on the other side Infosys is increasing deductions in variable pay.”
He added, “The company has last month reported an 11.10 per cent year-on-year (YoY) rise in consolidated net profit at Rs 6,021 crore in September quarter compared with Rs 5,421 crore in the corresponding quarter last year. Large deal wins for the last quarter was robust at $2.7 billion, highest in last seven quarters. Hence it is completely unethical and unacceptable from the employees perspective who are the backbone of the organization.”
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