Infosys to give 80% variable pay to employees for September quarter, ETHRWorld

Infosys will hand out the quarterly performance bonus for the July-September period to eligible employees at an average of 80% payout this month.

Employees at position level 6 (PL6-manager) and below band – meaning those below manager category barring entry level – are set to receive the variable pay. While the average payout would be at 80%, individual payout will differ based on their performance and contribution for the quarter, as per an official communication by the engineering team HR head at Infosys.

ET has seen the internal communication.

“This is to keep you all informed that the quarterly performance bonus payout for Q2FY2024 will happen in November 2023 payroll for all eligible employees,” it said.

Unit delivery managers will finalise the distribution of the payout for their respective units and inform the eligible employees this week, it said.

Infosys did not respond to emailed queries sent by ET as of press time Thursday.

The Bengaluru-based IT giant, which had frozen salary hikes in FY23 to conserve cash, had started its annual appraisal cycle starting October, ET had reported in September.

Its performance bonus payout comes at a time when Infosys and other top-tier IT companies have reported muted revenue growth in the September quarter –…