Infosys co-founder Narayana Murthy has an advice to senior executives of IT companies: take salary cuts and train your employees so that job losses are minimised.
"We have gone through these troughs in business several times, there is no need for us to become extremely anxious. It is possible to protect jobs of youngsters if seniors make minor adjustments, like senior people taking salary cuts based on disposable income.
"This is what we did after the dot com crisis. Industry leaders need to identify new areas of opportunity, Mount training programs and give them time to train. Give youngsters enough time to pick up new skills and technologies," he told ET Now in an interview.
The advice is significant amid CEOs, COOs, CFOs of companies such as Infosys and TCS getting handsome salary hike in 2016-17, though some components may have seen a drop.
In TCS, apart from the then CEO N Chandrasekaran, other top executives who got significant salary hike include his successor Rajesh Gopinath, Suprakash Mukhopadhyay, global treasury head and company secretary, and executive director Aarti Subramanian.
However, he said there the idea of employees union in the industry was not necessary provided managements practised "compassionate capitalism."
Murthy is one of the seven co-founders of Infosys, along with Nandan Nilekani, S Gopalakrishnan, S D Shibulal, K Dinesh, N S Raghavan and Ashok Arora.
