Infosys Salary Cut Pay Cut: Infosys Cuts Variable Pay

We had reported in the month of February about the possibility of Infosys Salary Variable Pay Cut News. It seems like the news is now confirmed. It has gone really deep as the company is reported to slash the variable pay to the tune of 58% at the higher levels of executives, where the variable pay itself accounts for almost 50% of the total salary. That would mean that the high end executives will now be getting poorer by 30% of their salary.



Though the good news is that the company officials have said that company will not be going for layoffs, instead it may go for pay cuts. There is obviously no salary hike this year and no promotions either, as reported on CNBC. There is a big pressure to keep the costs under control for the company. Rumors are doing rounds among the employees that the company may even go for measures like blocking outgoing phone calls from office, reduction in other benefits, etc. However, these remain rumors.

It is also reported by Mohandas Pai, the HR Head that some boardroom members have even taken a hit of upto 70 to 85 percent.
The fate of the Indian IT engineers dont seem to be that great, especially in the current market scenario. All the dreams of having that lucrative IT job with opportunities to fly worldwide and work with international clients is taking a toll. Worse is the case of people who have taken huge housing loans and car loans and will not find it difficult to repay their EMI. Hope that the situation gets better soon