BANGALORE, INDIA: Indian IT major Infosys Technologies is mulling the possibility of a salary cut, even as the IT bellwether has virtually frozen fresh recruitments on account of the global meltdown, say media reports.
"A part of our salary is determined by variable sales component, which is the percentage of the company's revenue," IANS quoted Infosys' director for human resources TV Mohandas Pai as saying. “Since the revenues are down, the salaries will naturally be trimmed.”
He also said the leading software exporter and business process outsourcing firm may also opt out of salary hikes because of the slowdown.
“The increments may not happen this year. But, if they do, they will be subdued.”
However, Pai said that the company will honour the 20,000 campus offers made last year, but added that fresh hiring has been frozen, the report said.
Infosys had reported a net profit of Rs 1,641 crore for the quarter ended December 31.