Infosys plans wage hikes in April: reports
Infosys Technologies, India's No. 2 IT services exporter, plans to raise wages for all its staff by 8-12 per cent in April on a rebound in demand for outsourcing services, media reports said on Thursday.Updated: Mar 04, 2010, 13:50 IST
Infosys Technologies, India's No. 2 IT services exporter, plans to raise wages for all its staff by 8-12 per cent in April on a rebound in demand for outsourcing services, media reports said on Thursday.
Infosys and its rivals such as Tata Consultancy Services and Wipro had put off their annual wage hikes in April last year as global recession crimped investments on technology services by their clients.
Nasdaq-listed Infosys announced wage rises in October last year for this fiscal year ending in March.
"Yes, we are considering a wage hike in April. We expect business to be normal in the coming year and as in a normal year, we give hikes every April," the Economic Times quoted an Infosys spokeswoman as saying to its TV channel ET NOW.
"The hikes will be across the board," she said.
A spokeswoman for Bangalore-based Infosys was not immediately available for comment.
Business Standard newspaper said, without quoting sources, Infosys was planning 8-12 percent wage hikes in April.
It said outsourcing firms such as Tata Consultancy and Wipro were also planning salary increases between 8 percent and 12 percent for the financial year beginning in April on improved business environment.
Wages at Indian software companies had been rising by 10-15 percent before the slowdown, as outsourcers struggled to keep staff from being poached by global rivals such as IBM and Accenture who hire by thousands in India.
High wages crimp the profit margins of the export-driven IT services exporters.