Infosys will be giving a salary hike to its approximately 2 lakh employees, but there is not much to cheer about for the workforce for two reasons: the Bengaluru-based company won't be paying arrears for the April-June period since the hike will be effective from July 1 and the rate of increase at 5-11 percent on an average is lower than last year.
The company had 2,00,364 employees as of March 31, 2017, according to regulatory filings.
Also read: Salary hike for Infosys, TCS, Wipro, Tech Mahindra employees will be interesting
The hike will be a tad higher for top performers, in the range of 9-11 percent, Moneycontrol.com reported, citing news agency Cogencis.
Last year, Infosys had announced a hike in the range of 6-12 percent, with onsite staff getting 1 percent pay increase on an average, lower than 2 percent in 2015.
The share price of the company was trading almost flat at Rs 954 on the BSE at around 9.45 am. The Sensex was down 10 points at 31,199.
TCS is yet to make an announcement on raising salaries of its employees while Wipro is reported to have given an average hike of 5 percent this year, according to a Times of India report.
Shareholders of the two companies were kept in good humour, with Wipro declaring 1:1 bonus issue and TCS buying back shares.
