infosys to pay 80% performance bonus to employees, who is eligible
Infosys, an Indian multinational information technology company, is set to pay 80 per cent variable pay to its employees. However, only selected employees will be eligible to receive a performance bonus. The amount will be paid as a quarterly performance bonus to some employees for September.
As per an Economic Times report, some employees at position level 6 and below will receive an average payout of 80 per cent. The bonus will be distributed by unit delivery managers.
Who is eligible?
The bonus will be paid after analyzing the employees’ performance and contributions to the company during the July-September period. The bonus will be given to eligible employees by the end of November.
The HR told employees, “This is to keep you all informed that the quarterly performance bonus payout for Q2FY2024 will happen in the November 2023 payroll for all eligible employees.”
Unit delivery managers will finalize the distribution of the bonus to eligible employees this week. If you have done excellent work during the July-September period, you are eligible to receive the bonus.
Infosys co-founder NR Narayana Murthy has been making headlines in recent weeks over his 70 hours work week remark. In October, NR Narayana Murthy triggered a nationwide debate when he said that young workers should work for 70 hours every week. Last week, he also made headlines by saying that becoming a software engineer or financial analyst was “very easy.”
He said, “While it is very easy to become a software engineer or become a financial analyst, but to become an entrepreneur and say, ‘I will try out this unbelievable idea, which has a low probability.’ That is what we have to do.”
Last year, Infosys fired employees over moonlighting over the last 12 months. The company said it does not support moonlighting or employees who are into dual employment. The company said, “No two-timing – no moonlighting!” The company sent an email to employees titled “no double lives”, saying: “No two-timing — no moonlighting!” It called moonlighting “an unethical practice.”