Infosys Plans to Reduce Variable Pay by 60% – Report Said!! Infosys, one of India’s leading Information Technology companies, has planned to cut variable pay by 60 percent for the September quarter. Infosys, which recently announced various perks ranging from work-from-home to moonlighting, has decided now to reduce the amount of variable pay for employees, some reports said.
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This variable pay is 10 to 20 percent of the employee’s gross salary. According to the latest information released in this regard, Infosys will provide only 60 percent of variable pay for the September quarter. It has been informed that the reduction will not apply to all employees and BPM division employees will see a reduction in variable pay. Around 50000 employees work in this division.
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Accordingly, all IT employees in J4, J5, and J6 categories will get 60 percent variable pay only. Earlier, Infosys had given 70 percent variable pay to all its employees in the June quarter. Meanwhile, the company had a revenue of Rs 36,538 crore in the last September quarter. At the same time, its attrition rate has decreased to 27.1 percent.
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