Infosys gives 70% variable pay for Q1 amid challenging demand environment

The average variable payout remained unchanged from the fourth quarter but was lower than the 80 per cent paid for the same period last year amid macroeconomic volatility

Infosys has given an average variable pay of 70 percent for the first quarter, according to people familiar with the matter. It was less than the 80 percent it paid for the same period last year, as IT companies continued to navigate macroeconomic volatility and low revenue environment. 

The percentage payout was the same as the fourth quarter, indicating that challenges continue to persist and the current financial year is more difficult than the last. Employees across job levels (JL) 4 and 5 received higher payouts than JL6.  

The company did not immediately respond to request for comment from Business Standard. 

All the employees across levels are part of this payout. Business Standard could not immediately confirm when the payments will be made.  

The payments come after Infosys reported results that missed analyst expectations. It also cut the upper end of its annual guidance.  

Infosys said it will provide salary hikes to its employees in October and January.