Infosys and its Rivals Adjourn the Salary Hike for the Fourth Time in FY25
The uncertainty in global demand, low discretionary spending, macroeconomic volatility are some of the major reasons for the IT service companies like Infosys to skip or postpone the salary hike for a fourth time in the fiscal year 2025. The Chief Financial Officer of Infosys had stated that in January certain increments will take place effectively and the rest will come into effect in April 2025. The rivals of Infosys which includes HCL Tech, LTIMindtree, and L&T Technology Services have also adjourned the hikes in the salary during the Q2 to improve the profitability and costs.
Operational Profitability, improved pricing, optimization of subcontractor expenses can mitigate Infosys’ cost-efficiency initiatives under the Project Maximus (a crucial key factor/plan implemented by Infosys to reduce the cost and increase the margin).
The profit of this largest IT company has also been revealed which reports that there is a sequential increase in the net profit with 2.2 percent and it is estimated as Rs.6,506 crore. But it is said to be shorter than the market expectations. Previously, in November 2023 Infosys had released the bonus and hike for the eligible employees.
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