Infosys will begin rolling out salary hikes for employees later this year, with increments to be given in three phases spread across October and January, CEO Salil Parekh said on Thursday.
Speaking at the company's post-Q1 earnings press conference, Parekh said most employees will receive their salary revisions in October, while senior employees will get their hikes in January, report.
The IT major said the salary hike cycle will be implemented in three parts. While the company did not share details of the percentage increase, it confirmed that the rollout will begin in October and continue into January for different employee groups.
The announcement comes as Infosys reported its financial results for the first quarter of FY27.
Infosys also said it remains committed to campus hiring and plans to recruit 20,000 freshers during the current financial year.
The company added that it has already hired more than 4,000 freshers during the April-June quarter.
The company's IT services attrition rate for the last 12 months stood at 13%, slightly higher than 12.6% reported in the previous quarter.
Employee headcount stood at 3,28,062 as of June 30, compared with 3,28,594 at the end of March, indicating a marginal decline in the overall workforce.
Artificial intelligence continued to play a bigger role in the business, with AI services contributing 8.2% of total revenue during the quarter, up from 5.5% in the December quarter.
Large deal bookings worth more than $30 million came in at $3.6 billion, compared with $3.2 billion in the previous quarter.
Alongside its quarterly results, Infosys also announced a leadership transition. The Board appointed Ashiss Kumar Dash as CEO-designate. He will take over as the company's Chief Executive Officer and Managing Director from April 2027, when Salil Parekh's current term comes to an end.
Source: India Today