1 week ago
Infosys Sets Quarterly Variable Pay At 70 Percent
Infosys gives some employees extra pay based on how the company performs.
For the first quarter, the average extra payment was 70 percent.
This was lower than the 80 percent paid during the same quarter last year.
It was the same as the payment made in the previous quarter.
Employees in job levels 4 and 5 received more than employees in job level 6.
Most junior and mid-senior employees could receive the payment.
The company has been dealing with uncertain economic conditions and weak revenue growth.
The report did not say when senior managers would receive their bonuses.
Infosys awarded employees an average variable pay of 70% for the first quarter.
The payout was below the 80% awarded for the same period last year.
The 70% payout matched the previous quarter’s level.
Employees in job levels 4 and 5 received higher payouts than those in job level 6.
The payments followed Infosys results that missed analyst expectations, while bonus timing for senior management remained unconfirmed.
- Who
- Infosys employees, with job levels 4 and 5 receiving higher payouts than job level 6.
- What
- Infosys awarded an average quarterly variable pay of 70%.
- Where
- Not specified in the report.
- When
- For the first quarter; the payment timing for senior management was not confirmed.
- Why
- The payout came as IT companies faced macroeconomic volatility and a low-revenue environment, after Infosys missed analyst expectations.
Key facts
- Average variable pay
- 70% for the first quarter
- Same-period comparison
- 80% was paid for the same period last year
- Previous-quarter comparison
- The payout matched the fourth-quarter level
- Higher-paying job levels
- Job levels 4 and 5 received higher payouts than job level 6
- Eligible workforce
- Most junior to mid-senior employees were eligible
- Senior management
- Timing and the bonus corpus were not immediately confirmed
- Business context
- Infosys reported results that missed analyst expectations
Sources
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