Infosys Announces 80% Variable Pay for Certain Employees in Second Quarter Fiscal 2024

In a recent development, Infosys Limited INFY, a leader in next-generation digital consulting, technology, outsourcing, and services, has declared its decision to distribute 80% of the variable pay to its eligible employees for the Q2 period of fiscal year 2024. This payout comes in the wake of modest earnings, signaling the company's intent to keep its workforce motivated amidst a challenging economic environment.

Understanding the Variable Pay Structure

The variable pay policy at Infosys impacts employees up to position level 6 (PL6), which corresponds to manager level roles, extending down to those employees below the managerial tier. However, it excludes entry-level workers. This indicates a significant portion of the company's workforce will benefit from the variable pay for the specified term, as reported by Economic Times.

Infosys' Market Performance

INFY operates on a global scale with significant presence in North America, Europe, India, and other international markets. Headquartered in Bengaluru (Bangalore), India, the company has established a reputation for delivering cutting-edge digital services. The initiative to reward employees below management level with variable pay reflects Infosys' commitment to not only its clients but also its employees, as they navigate through periods of muted financial performance.

Infosys, Earnings, VariablePay