Infosys to roll back hike freeze?

BANGALORE, INDIA: A top-level meeting of senior executives at Infosys Limited is expected to be convened on Wednesday, following reports of employee ire against the company decision not to offer an increment in salary for now.

It was decided to withhold pay hikes for employees after the company put up a below-par performance in the last quarter. "We will give a raise when we have more comfort on business," said chief financial officer V. Balakrishnan, which didn't seem to go down well with a majority of the 1.49 lakh-strong workforce. Last year, most of them got a hike of about 10-12 per cent.

CIOL reported about the decision on Friday, after the technology major announced its annual results. It was then senior vice-president and group head of Human Resources, Nandita Gurjar, had stated that their employees would understand it and be fine with it.

It fuelled angry reactions from a lot of readers, who identified themselves as either former or current employees of the organization.

It is learnt that the irate comments, also on other sections of media, have made the company to have a relook at the issue and arrive at an appropriate future course of action. At this juncture, there is a possibility that the freeze might be revoked, amid market speculation and analysts' view that Infosys might face huge attrition as a result of the no-pay-hike move.

Meanwhile, a highly-placed source from the company assured us that they were looking to address this issue and would work out a solution for the benefit of employees at the earliest.

Watch this space for more on the top-level meeting. Also, have your say on whether the company should roll back its decision.