Sikka says no layoffs, Infosys rewards top performers | business | Hindustan Times
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Sikka says no layoffs, Infosys rewards top performers

business Updated: Jan 10, 2015 03:47 IST
Manu P Toms

Infosys is fighting staff attrition with cool gifts like free iPhones to top performers and cheer-up letters to one and all. CEO Vishal Sikka was emphatic on Friday that there were no layoffs in the company, and if anything, things were getting better quarter after quarter.

“We just rewarded the top 2% of our employees with iPhones. There are no layoffs,” he said in remarks coming in the wake of reports that industry leader TCS was seeing the exit of thousands of employees in a labour churn that the industry leader denies.

While 10,128 people left Infosys in the second quarter, about 8,927 quit in the third quarter. “There is a marked reduction in attrition and we are happy about it,” Sikka said. “We want this number to come down further and we are working on that,” he added.

The IT major has been struggling with around 20% attrition for quite some time and is initiating various measures to bring it under control. The company has decided to give 100% variable pay out for the third quarter following its strong performance.

The company had rolled out 5,000 promotions a few months before and gave interim salary hikes. UB Pravin Rao, chief operating officer, Infosys said involuntary attrition, which is based on performance, is a small percentage.