Business Standard

Infosys rolls out a 60% average variable payout; Wipro's at 80.2%

IT company Infosys has decided to roll out a 60 per cent average variable payout for its employees for Q4 FY23, while for Wipro the payout stands at 80.2 per cent, according to sources

The attrition rate at Infosys touched a record high of 27.7 per cent in the fourth quarter of FY22 on an LTM (last twelve months) basis, the company revealed

Press Trust of India New Delhi

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IT company Infosys has decided to roll out a 60 per cent average variable payout for its employees for Q4 FY23, while for Wipro the payout stands at 80.2 per cent, according to sources.
In an internal communication to employees, Infosys said that the Performance Bonus recommendation for Q4 FY2022-23 has been completed, and the payout is scheduled to take place in May 2023 payroll.
Infosys' average payout stood at 60 per cent for Q4 FY23, according to a source.
For Wipro, the variable payout for the fourth quarter of FY23 is at 80.2 per cent, a person familiar with the development said.
An e-mail sent to Infosys went unanswered, and Wipro declined to comment.
It is pertinent to mention that the Q4 scorecard and outlook given by several IT companies missed street estimates amid global uncertainties, and market watchers expect the next few quarters to be choppy given the prevailing customer sentiments across BFSI, technology services and certain other verticals, particularly in the US.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: May 19 2023 | 7:52 PM IST

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