Bengaluru, Jan 15: Information technology company Infosys, in a surprise move, has given its employees 95 per cent of their variable pay in December quarter. A report claimed that the payout is highest in last 9 quarters. The latest move is seen as a move to boost to the moral confidence of the employees after new chief executive officer Salil Parekh took charge of the company last week. Also Read - Infosys Announces Salary Increment From Jan, 100% Variable Pay, Special Bonus in Dec Quarter
The payout comes days after the company decided to increase the salary of middle and senior management in various locations in the December quarter. However, the company deferred an increase in the salaries of senior-level employees. Also Read - Sensex Closing Bell: Markets End 376 Pts Higher Despite Indo-China Standoff; HDFC Twins, ICICI Bank Win Big
“This is unusual and unexpected, especially in a weak quarter. We didn’t get iPhones. But I think this is a great morale booster with a new CEO at the helm,”any increase in the salary packages of senior-level employees,” The Times of India quoted an employee as saying. The company has been giving an average variable pay of 75 percent. Also Read - 'Sneeze And Spread The Virus': Infosys Employee Sacked, Arrested For Facebook Post
The company has posted over 38 per cent jump in third-quarter net profit. Its net profit for the October-December quarter, at Rs 5,129 crore or Rs 22.53 per share, was 38.3 per cent higher than Rs 3,708 crore in the year-ago period.