Employees of this company to get 80% performance bonus; Check details
Infosys has declared an 80% variable pay as a performance bonus applicable for the September performance period for selected employees.
New Delhi: Infosys has declared an 80% variable pay as a performance bonus for selected employees. This quarterly bonus, applicable for the September performance period, will be granted to employees at position level 6 and below.
Infosys made headlines in October by announcing the omission of campus hiring for the year, citing a substantial fresher bench for training purposes. CEO and MD Salil Parekh indicated efforts to streamline the employee pyramid, targeting a utilization rate of 84-85%.
As per an Economic Times report, the 80% variable pay will be distributed to employees below manager level (excluding entry-level positions). This marks an increase from the previous quarter’s bonus, ranging between 60% and 70%.
In an email to employees, Infosys underscored the significance of the bonus, linking it to the employees’ performance and contributions during the July-September period. The distribution of the payout will be personalized, determined by unit delivery managers.
The HR email stated, “This is to keep you all informed that the quarterly performance bonus payout for Q2FY2024 will happen in November 2023 payroll for all eligible employees.”
It further highlighted the employees’ resilience in maintaining relevance and building a strong foundation for future market share expansion during Q2, despite challenging circumstances. The company acknowledged the pivotal role played by employees in its success and expressed optimism for the upcoming quarter.
Unit delivery managers will finalize the distribution of the payout for their respective units and inform eligible employees within the week.
Ms Kalinga