Latest News – The employee costs of Infosys, the country’s second-largest information technology (IT) services exporter, might increase as the company hires more local employees in key global markets in the US and Europe.
The company, which has announced various cost control measures to maintain a higher profitability at operating margin of 23-25 per cent, has a few hundred employees who are paid more than Rs 1 crore or equivalent in local currencies in the countries they operate.
According to Economic Times report on Wednesday, Infosys is paying more than 1,800 employees in its overseas locations over Rs 1 crore and 150 of them have been hired last financial year. The company’s annual report says Infosys has listed around 50 people earning compensation of over Rs 1 crore, including Chief Executive Officer (CEO) Vishal Sikka and Chief Operating Officer (CFO) Pravin Rao.
Infosys’ decision to pay higher salaries to its overseas employees may have an (Read More)