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Infosys aims to achieve 45% female representation in its workforce by 2030 under its ESG Vision 2030. As of fiscal 2024, women comprised 39.3% of its total workforce, totaling over 124,569 female employees

Infosys launches 'Restart With Infosys' to recruit women on career breaks

Infosys aims to achieve 45% female representation in its workforce by 2030 under its ESG Vision 2030. As of fiscal 2024, women comprised 39.3% of its total workforce, totaling over 124,569 female employees

Infosys has launched the latest edition of its 'Restart With Infosys' initiative, aimed at hiring women professionals who have taken a career break, as part of an effort to increase female participation in its workforce. Also read/watch - <a title="Elon Musk's SpaceX bags $843 million NASA contract to deorbit International Space Station" href="https://www.editorji.com/business-news/elon-musk-s-spacex-bags-843-million-nasa-contract-to-deorbit-international-space-station-1719490884794">Elon Musk's SpaceX bags $843 million NASA contract to deorbit International Space Station</a>
Eligible candidates must have worked for at least two years before their break and have taken a break of at least six months. The company has advertised available positions and is encouraging employee referrals, with rewards for successful hires. Meanwhile, Infosys saw a 7.9% reduction in its female workforce, with 10,786 fewer women employees, amid an overall 7.6% decrease in its workforce during the financial year 2023-24. Infosys aims to achieve 45% female representation in its workforce by 2030 under its ESG Vision 2030. As of fiscal 2024, women comprised 39.3% of its total workforce, totaling over 124,569 female employees.

Around 10,000 freshers face indefinite onboarding delays from IT giants TCS, Infosys, and Wipro, amid a significant headcount reduction. Uncertainty in the macro environment and lack of project visibility contribute to the delays

Infosys, Wipro, TCS delay onboarding of 10,000 freshers: Report

<h2>Around 10,000 freshers face indefinite onboarding delays from IT giants TCS, Infosys, and Wipro, amid a significant headcount reduction. Uncertainty in the macro environment and lack of project visibility contribute to the delays</h2>

About 10,000 freshers are hanging by a thread, as IT majors including Wipro, TCS and Infosys have deferred the onboarding process. As per Times of India, the hired freshers are not given a definite joining date.
<h3>Onboarding deferred</h3>
The Times of India report quoted, Nascent Information Technology Employees Senate President, Harpreet Singh Saluja and said that complaints were received from candidates who were offered positions at companies like TCS, Infosys, Wipro, Zensar and LTIMindtree.
Meanwhile, the combined headcount of TCS, Infosys, and Wipro dropped by nearly 64,000 in the financial year ended in March.
As per Times of India, Infosys informed these candidates, that the date of joining will be informed based on business requirement and it will be provided 3-4 weeks prior. Meanwhile in FY24 Infosys hired only 11,900 campus recruits- a decrease of 76% compared to 50,000 freshers that the company hired in the previous year.
Wipro on the other hand has not yet fulfilled the campus offers it made two years ago.&nbsp;
&ldquo;The year before last, we went to campus and made many offers. We are yet to honour those. We will finish those offers and then hire new freshers. We will induct freshers this year, but we cannot give a number as the macro environment is uncertain&rdquo;, Wipro CHRO Saurabh Govil said earlier.
Times of India quoted Krishna Vij, business head of IT staffing at Team lease and said that around 3-5% of freshers hired by the top IT services companies in 2022 are yet to be onboarded. The delay could be due to lack of project visibility, and employers focus on the required skill sets and job readiness of the candidates, he added.
Also watch: <a href="https://www.editorji.com/business-news/paytm-to-cut-jobs-in-restructuring-efforts-offers-outplacement-support-and-bonuses-for-laid-off-staff-1718005162530#google_vignette">Paytm to cut jobs in restructuring efforts; offers outplacement support and bonuses for laid off staff</a>

Parekh’s FY23 compensation was 56 crore rupees, down from 71 crore rupees in FY22

Infosys' Salil Parekh, now, second-highest paid CEO in India's IT industry 

Parekh&rsquo;s FY23 compensation was 56 crore rupees, down from 71 crore rupees in FY22

Salil Parekh, CEO of Infosys, is the second-highest paid CEO in India's IT sector for FY24, earning 66.25 crore rupees, according to annual report data seen by moneycontrol. His salary is second only to Wipro&rsquo;s former CEO Thierry Delaporte, who earned 20 million dollars or approximately 166 crore rupees, including a severance package of 92.1 crore rupees.
Also read/watch - <a title="Sensex and Nifty surge over 3% to record highs as exit polls predict major BJP-led NDA victory" href="https://www.editorji.com/business-news/markets/sensex-and-nifty-surge-over-3-to-record-highs-as-exit-polls-predict-major-bjp-led-nda-victory-1717414513661">Sensex and Nifty surge over 3% to record highs as exit polls predict major BJP-led NDA victory</a> &nbsp; Parekh&rsquo;s FY23 compensation was 56 crore rupees, down from 71 crore rupees in FY22. The increase in FY24 is attributed to Parekh exercising more restricted stock units during the year, as detailed in Infosys' annual report. RSUs are a form of equity compensation for employees. Tata Consultancy Services or TCS CEO and MD K Krithivasan received an annual compensation of 25.36 crore rupees in the financial year 2023-24, making it the lowest among major IT companies.

TCS reported a fall in its headcount for the 3rd quarter in a row with its total employee base falling to 6,01,546 at the end of FY24

Infosys and TCS witness a decline in headcount amid macroeconomic headwinds

TCS reported a fall in its headcount for the 3rd quarter in a row with its total employee base falling to 6,01,546 at the end of FY24

Infosys experienced a net reduction of 5,423 employees in the January to March 2024 quarter, bringing its total workforce to 317,240 by the end of the 2023-24 fiscal year.
This marks the fifth consecutive quarter of declining workforce numbers for the IT services giant, with a total decrease of over 29,000 employees in this period.
Similarly, Infosys' competitor Tata Consultancy Services or TCS reported a net decrease of 1,759 employees in the same quarter, resulting in a total workforce of 601,546 by the end of the 2023-24 fiscal year, the lowest in the past two years.
At a time when Infosys had implemented a campus hiring freeze, TCS boasted of being the first one to hire from institutes.

Infosys, a major IT services company, reveals anticipation of a hefty tax refund amounting to ₹6,329 crore from the Income Tax Department. Concurrently, the company discloses a tax demand of ₹2,763 crore following assessment orders

The Income Tax department may issue a tax refund of ₹6,329 crore to Infosys

Infosys, a major IT services company, reveals anticipation of a hefty tax refund amounting to ₹6,329 crore from the Income Tax Department. Concurrently, the company discloses a tax demand of ₹2,763 crore following assessment orders

Infosys is expecting a refund of ₹6,329 crore from the Income Tax Department, the country's second-largest IT services company has said.
It also informed the stock exchanges about tax demand to the tune of ₹2,763 crore, citing various assessment orders.
Infosys said it has received orders from the Income Tax Department for assessment years 07-08 to 15-16, 17-18, and 18-19 during the quarter.
"As per the orders, the company expects a refund of ₹6,329 crore (including interest). The company is in the process of evaluating the implications of these orders on the financial statements for the quarter and year ending March 31, 2024," Infosys said in a BSE filing.
The Bengaluru-headquartered IT company also said it has received an order for assessment year 22-23 with a tax demand of ₹2,763 crore, including interest, and for assessment year 11-12 with a tax demand of ₹4 crore, interest included.
Infosys has received assessment orders for subsidiaries as well, totalling ₹277 crore.
These include assessment orders for assessment years 21-22 and 18-19, respectively, with total tax demand of ₹145 crore; order for assessment year 22-23 with a tax demand of ₹127 crore; and for assessment year 22-23 entailing tax demand of ₹5 crore -- all of them inclusive of interest.
"The company is in the process of evaluating the implications of these orders on the financial statements for the quarter and year ending March 31, 2024 and also evaluating filing appeals against these orders," Infosys said.
Further, a subsidiary of the company has received refund orders under Section 254 for assessment years 07-08 and 08-09 and under Section 154 for assessment year 16-17, it said, adding that the refund amount as per these orders is ₹14 crore.
"The company is in the process of evaluating the implications of these orders on the financial statements for the quarter and year ending March 31, 2024. As on March 29, 2024, the above orders cumulatively exceed the materiality criteria as prescribed under Regulation 30 of the Listing Regulations (as amended), and accordingly this disclosure is submitted," Infosys said.
Infosys, which competes with Tata Consultancy Services, Wipro, Cognizant and others for global IT services contracts, is scheduled to declare its financial results for the March quarter and full FY24, on April 18.
Recently, Accenture's subdued showing alongside lower outlook had dashed analysts' hopes for a demand recovery in 2024-25.
Accenture chopped its full-year revenue growth outlook to 1-3% from 2-5% it had guided for previously, sparking wide concerns that the road to recovery for tech services could be longer and tougher than originally anticipated.
For the December quarter, Infosys reported a lower-than-expected 7.3% fall in net profit on sluggish demand from clients and cut its annual sales forecast. The company posted a net profit (attributable to shareholders) of ₹6,106 crore compared to ₹6,586 crore in the year-ago period.
Infosys' consolidated revenue from operations increased 1.3% to ₹38,821 crore during the third quarter of FY24 from ₹38,318 crore a year ago.&nbsp;

While Infosys has urged its employees to recommend potential candidates it has also said that there will be no referral bonus for the recommendations made

Infosys Hiring 2024: IT giant to hold walk-in hiring drive in Bengaluru on March 9

Tech hiring: Infosys plans walk-in recruitment drive in Bengaluru on March 9

<h2>While Infosys has urged its employees to recommend potential candidates it has also said that there will be no referral bonus for the recommendations made</h2>

Following Hyderabad and Chennai, Infosys has planned another walk-in recruitment drive in Bengaluru on March 9th. As per The Economic Times, the talent acquisition comes amid a renewal of four big-ticket contracts at Infosys.&nbsp;
The report further mentioned that the firm is also looking to fill in the positions in its smaller projects that were left vacant due to attrition
<h3>Hiring by Infosys&nbsp;</h3>
Infosys in a broadcast mail to employees has asked them to refer potential candidates signalling easing of the curbs on hiring and revival in business sentiment. However, the company has said that the employees will not get a referral bonus for recommendations.
The firm in the mail has said that the candidates must carry their latest resume, 2 recent passport size photographs and a government ID proof for the walk-in recruitment.
"We are looking for individuals who are passionate, skilled and ready to contribute to our ongoing projects and company culture. This is an excellent chance for candidates within your professional and personal network who meet the criteria and are seeking new opportunities. They can just walk in during the event with their latest resume, 2 recent passport size photographs and a government ID proof,&rdquo; the company said
Also Read: <a href="https://www.editorji.com/business-news/it-hiring-plummets-to-14-over-the-last-year-here-s-why-1702390289107">IT hiring plummets to 14% over the last year, Here's why</a>
Infosys is looking for professionals possessing skills in Java/DotNet/Mainframe/ServiceNowDeveloper with three to nine years of experience for its Bengaluru campus. For the Hyderabad campus it hired people with skills in Java/DotNet/SAPABAP/SAPFICO and for the Chennai campus people with skills in Java/Dotnet/Mainframe/Python were hired.
<h3>Tech hiring 2024</h3>
Another Indian IT giant Tata Consultancy Services has also advertised virtual hiring for enterprise solutions, cybersecurity, AI cloud, IoT &amp; digital engineering, infrastructure services, business process services, TCS interactive IP and wireless networks with 3-15 years of experience. The advertisement said its looking for &ldquo;for rockstars, not robots&rdquo;.&nbsp;
The Economic Times quoted business head - IT staffing at Teamlease Digital Krishna Vij and said that the IT firms engaging in focused hiring to maintain project continuity despite the decreasing headcount and slower campus recruitment.
&ldquo;Despite decreasing headcounts and slower campus recruitments in the IT sector, firms are engaging in focused hiring to maintain project continuity, addressing both generic and emerging skills when internal teams and vendors are unable to meet the TAT/skills requirements necessitating the creation of a bench&mdash;whether to secure potential projects or to maintain a bench for capability building to serve potential projects/customers,&rdquo; said Krishna Vij, business head - IT staffing at Teamlease Digital
These hiring indicates that the demand has not diminished giving a glimmer of hope to the $250 billion Indian IT industry that has been facing a record low headcount amid global economic uncertainties and squeeze in IT spending by several global corporations.
"We also observed that major IT services companies continue to hire generic demand skills, indicating that the demand has not diminished entirely,&rdquo; Vij told The Economic Times
The report also mentioned that staffing firms believe these hiring drives, lasting weeks to months, depend on the volume and urgency of positions. This could signify targeted growth in specific sectors or with clients amid an overall demand decline.
&ldquo;While we have not seen any mandates from IT services firms, right now, it is an employers&rsquo; market. Desperation to hire immediately is low and so such drives could be used for practical corrections and show expected growth potential in companies,&rdquo; a senior executive with IT Staffing firm told The Economic Times.&nbsp;
The Economic Times report further mentioned that certain tech firms are also on the verge of futureproofing, proactively acquiring talent in anticipation of an eventual market upswing or in the process of securing new orders.
Also Read:<a href="https://www.editorji.com/business-news/reliance-industries-and-walt-disney-announce-joint-venture-ril-to-invest-rs-11-500-crore-1709130684447"> Reliance Industries and Walt Disney announce joint venture, RIL to invest Rs 11,500 crore</a>

Days after facing backlash online, Infosys founder Narayan Murthy defended his 70-hour work week advice, saying that the educated people owe it to factory workers and farmers "who work extremely hard".

Infosys founder Narayan Murthy defends his 70-hour work week advice after backlash 

Don't believe in giving advice without doing it myself: Narayan Murthy defends 70-hour work remark 

Days after facing backlash online, Infosys founder Narayan Murthy defended his 70-hour work week advice, saying that the educated people owe it to factory workers and farmers "who work extremely hard".

Infosys founder Narayan Murthy defended his 70-hour work week advice for the youth days after facing backlash online, saying that the educated people owe it to those "less fortunate who work extremely hard".
In an interview to CNBC on Friday, Murthy said that though his advice to boost productivity may have triggered a massive debate globally, there were a lot of "good people" and "NRIs" who backed his statement.&nbsp;
"The issue is that we have to work hard in this country because the poor farmer works very hard...those of us who received education at a huge discount, thanks to the subsidy from the government for all these education, owe it to the less fortunate citizens of India to work extremely hard," he said.
"I rationalised it this way. If anybody that has much better than me in their own field, not necessarily in my field, I would respect, I would call them, and I would say, where do you think I was wrong in saying this? But I didn't find. A lot of my western friends, a lot of NRIs, a lot of good people in India called me, and without exception, they were all very happy
He further said that he has never given advice "without doing it" himself first, mentioning that at Infosys he used to start at 6 am and wind up work by 9 pm.
"I used to go (to work) six and a half days. Even in the electronics area, I used to work six and a half days. And every day I would leave home at 6 am in the morning. I would be in the office at 6.20. And I would leave by about 8.15, 8.30 pm," he said.
His wife and philanthropist Sudha Murty also said that a 70-hour work week was common for her family and that her husband regularly used to work up to 90 hours a week.
The whole controversy surrounding the work-life balance of the salaried class erupted last year when the Infosys founder, during a podcast, urged the working population to work for 70 hours a week. The remarks drew criticism from many netizens, including some CEOs.
"This is exactly what the Germans and Japanese did after the Second World War... they made sure that every German worked extra hours for a certain number of years," Murthy had said on a podcast with former Infosys CEO Mohandas Pai.
(With inputs from agencies)

The announcement of the hike comes just a day before Infosys' highly anticipated 'Stellar Saturday Culture Carnival' event scheduled for December 16, set to take place across its various campuses in India.

Infosys announces revised salaries for employees, average pay hike set below 10%: Report

The announcement of the hike comes just a day before Infosys' highly anticipated 'Stellar Saturday Culture Carnival' event scheduled for December 16, set to take place across its various campuses in India.

Infosys has surprised its workforce by announcing salary hikes for many of its employees, marking a departure from the usual industry practice.
Infosys has decided to implement these salary hikes starting from November 1, 2023, though the industry typically sees such revisions taking effect from April 1. However, it's worth noting that entry-level employees are excluded from this revision, and a report by ET indicates that the average salary hike this time around is anticipated to be below 10%.
This delay in implementing salary hikes serves as an indicator of the pressures that companies like Infosys are currently facing. The sector has been witnessing a slowdown in project activities, leading to a reconsideration of the usual timeline for compensation reviews, reported Money Control.
In a communication reviewed by ET, Infosys expressed appreciation, stating, "We are pleased to revise your compensation in acknowledgement of your commitment and performance with effect from November 1, 2023." This move arrives amidst a backdrop of the IT sector contending with sluggish demand for technology services on a global scale.
The average hike this time could range from single-digit increases to low-double digits, positioning this move as a strategic initiative by Infosys to boost employee morale in the face of industry challenges.
Notably, these salary revision letters were distributed a day before Infosys' highly anticipated 'Stellar Saturday Culture Carnival' event scheduled for December 16, set to take place across its various campuses in India.
Infosys' usual timeline for compensation reviews, typically announced in June with retrospective effect from April 1, was delayed this year by the company's management. During the earnings conference after the first quarter, Infosys CFO Nilanjan Roy hinted at the possibility of annual hikes, stating that their rollout was under "active consideration." 
Also Watch: <a href="https://www.editorji.com/business-news/infosys-gets-stricter-on-return-to-office-mandates-all-employees-work-from-office-thrice-a-week-1702378577242#google_vignette">Infosys gets stricter on return-to-office; mandates all employees work from office thrice a week</a>

Infosys Return to Office: Infosys has now asked all its employees to work from the office thrice a week. Check here for more details.

Infosys Work from Office: Infosys gets stricter on return-to-office; mandates all employees WFH thrice a week

Two months after issuing a directive of mandating all the band 5 and 6 level employees to work from office 10 days in a month, Infosys has now asked all its employees to work from office thrice a week

Infosys gets stricter on return-to-office; mandates all employees work from office thrice a week

<h2>Two months after issuing a directive of mandating all the band 5 and 6 level employees to work from office 10 days in a month, Infosys has now asked all its employees to work from office thrice a week</h2>

Infosys Work from Office: Months after mandating a section of its employees including mid-level managers and project leads, to work from the office, Indian IT giant Infosys has now further tightened the work-from-office requirements.
In a new internal memo, all employees have been instructed to return to the office and work for at least three days a week.&nbsp;
&ldquo;Please start coming to the office at least 3 days a week. It will become mandatory very shortly,&rdquo; an email sent to employees from the vertical heads of the Bengaluru-based software company read.
<h3>Infosys Work from Office</h3>
Infosys in October issued a similar directive in which it mandated employees working in the band 5 and band 6 levels to work 10 days a month from office.
Also Read: <a href="https://www.editorji.com/business-news/infosys-mandates-10-days-work-from-office-for-select-employees-starting-november-20-1698841120403">Infosys mandates 10 days work from office for select employees starting November 20</a>
Earlier, Infosys CEO Salil Parekh said that Infosys was &lsquo;flexible&rsquo; when it comes to remote work.
&ldquo;There are some instances, for example, with specific client work or a specific type of engagement where we feel it&rsquo;s better that everyone is working together. But in general, our view is we want to support this flexible approach. It&rsquo;s something that we believe is appropriate given how we&rsquo;ve set up the work-from-home infrastructure," Parekh said.
Infosys reported 3% year-on-year (YoY) rise in net profit at Rs 6,212 crore for the September quarter compared with Rs 6,026 crore in the year ago quarter. Its revenue in September quarter rose 6.7% to Rs 38,994 crore in Q2 against Rs 36,538 crore in the corresponding quarter of the last year.

The founder of Infosys emphasized that the government needs to urgently enhance the infrastructure. He pointed to the sluggish progress of Bengaluru's metro construction as a prime example.

Narayana Murthy pushes for three shifts for infrastructure growth

<h2>The founder of Infosys emphasized that the government needs to urgently enhance infrastructure development. He pointed to the sluggish progress of Bengaluru's metro construction as a prime example.</h2>

NR Narayana Murthy, the co-founder of Infosys, continued to advocate for significant changes in India's work culture.&nbsp; In his latest comments, Murthy emphasized the need for infrastructure growth, proposing a fundamental shift in work patterns for employees in the infrastructure sector. He suggested the adoption of three shifts instead of one for faster infrastructure growth.
During a conversation at the Bengaluru Tech Summit, alongside Nikhil Kamath, co-founder of Zerodha, Murthy highlighted key aspects imperative for Bengaluru's growth in the next 5-10 years. He outlined three critical factors: the establishment of English medium schools to nurture talent for the city's software industry, focused attention on infrastructure, and prompt decision-making by the government.
In a bid to bolster infrastructure development, Murthy urged the government to expedite ongoing projects like the construction of the Electronic City metro in Bengaluru. He advocated for increased work shifts in the infrastructure sector, citing that many successful nations operate on two shifts or more. Also Watch:<a href="https://www.editorji.com/business-news/india-must-invest-20-billion-in-20-years-to-train-school-teachers-narayana-murthy-1700040081040"> India must invest $20 billion in 20 years to train school teachers: Narayana Murthy</a>
Drawing comparisons to successful global practices, Murthy encouraged a cultural shift in India's work ethic, suggesting that striving for three shifts in infrastructure work could significantly contribute to the nation's growth. "People in those infrastructure industries must work three shifts, they should not work just one shift...come at 11 am and then go at 5 pm. At least on the Electronic City road, that is what I see, I may be completely wrong," Murthy said. "But in other nations that have high aspirations people work two shifts. I would return around midnight (when abroad), and I have seen people working as if they are going to disappear tomorrow morning. I cannot vouch for three shifts, but I can definitely vouch for two shifts." "We want to be better than all those countries. Why don't we say our people - work three shifts? Ask them what are their requirements to complete the stretch by their workers in three shifts - provide that. If we do that, I have no doubt that why India cannot grow faster than China," he said. He reiterated his earlier stance on increased work hours, stressing that India needs to enhance its work productivity to catch up with nations that have experienced substantial economic growth in recent decades.
Also Watch: <a href="https://www.editorji.com/business-news/infosys-founder-narayana-murthy-sparks-controversy-with-70-hour-work-week-proposal-1698397495626#google_vignette">Infosys founder Narayana Murthy sparks controversy with 70-hour work week proposal</a>

The employees were informed of the decision via an email addressed to bands 5 and 6, encompassing mid-level managers, project heads, and entry-level staff

Infosys mandates 10 days work from office for select employees starting November 20 

<h2>The employees were informed of the decision via an email addressed to bands 5 and 6, encompassing mid-level managers, project heads, and entry-level staff</h2>

Indian technology giant Infosys Ltd. is calling some employees back to the office for 10 days a month. Though, unlike many of its counterparts, Infosys is taking a more lenient approach, allowing employees to continue working remotely full-time for the rest of the month. The company's decision, communicated through an internal email to select entry- to mid-level staff, will be effective from November 20.
This move follows a controversial statement made by Infosys co-founder Narayana Murthy, who suggested that young Indians should work 70 hours a week. Despite Murthy's remarks, the company has maintained its official stance on providing flexibility to its employees. An email addressed to employees in bands 5 and 6, encompassing mid-level managers, project heads, and entry-level staff, specifies a minimum requirement of 10 office days per month.
Infosys' decision contrasts with other Indian IT services providers, such as Tata Consultancy Services Ltd., which has mandated a return to the office for five days a week starting October 1. Similarly, global tech giants like Amazon.com Inc. and Alphabet Inc.&rsquo;s Google have implemented their own office attendance policies, facing varying levels of resistance from employees.
Infosys CEO Salil Parekh, addressing the company's approach, stated that while some instances may require in-person collaboration for specific client work or engagements, the company generally supports a flexible approach. He emphasized Infosys's commitment to providing the necessary infrastructure for remote work while allowing employees the choice to work from home or the office.
Also Watch: <a href="https://www.editorji.com/business-news/amid-debate-over-narayana-murthy-s-70-hour-work-week-comment-report-shows-indians-among-hardest-workers-1698824705840">Amid debate over Narayana Murthy's 70 hour work week comment, report shows Indians among hardest workers</a>

Infosys founder Narayana Murthy's call for a 70-hour work week in India sparks heated debates. While some support his views, many condemn the "hustle culture" approach as elitist and harmful, especially for women

Infosys founder Narayana Murthy sparks controversy with 70-hour work week proposal

<h2>Infosys founder Narayana Murthy's call for a 70-hour work week in India sparks heated debates. While some support his views, many condemn the "hustle culture" approach as elitist and harmful, especially for women</h2>

Infosys founder NR Narayana Murthy's recent remarks advocating a 70-hour work week for Indian youth have ignited a fierce debate across social media platforms. Speaking on a podcast 'The Record,' Murthy emphasized the need for young people to work 12 hours a day to enhance India's competitiveness on the global stage, drawing parallels with the post-World War II efforts of countries like Japan and Germany.
<blockquote class="twitter-tweet">
What an elitist take!! I can&rsquo;t even fathom how he suggests such gruelling work hours. Does he know the time people spend travelling? How tough life can be? Don&rsquo;t they deserve time with family? <a href="https://t.co/PkN7mJGCJc">https://t.co/PkN7mJGCJc</a>
&mdash; MoneyTalkWithL (@LarissaFernand) <a href="https://twitter.com/LarissaFernand/status/1717565785655386360?ref_src=twsrc%5Etfw">October 26, 2023</a></blockquote>
However, Murthy's endorsement of a rigorous work schedule, dubbed "hustle culture," faced strong opposition online. Many users criticized his perspective as elitist, highlighting the challenges people face in their daily lives, such as commuting and family responsibilities. Some argued that such demanding hours would disproportionately impact women, potentially forcing them out of the workplace due to the added burden of housekeeping and caregiving. Also Watch: <a href="https://www.editorji.com/business-news/narayana-murthy-highlights-low-work-productivity-in-india-urges-youth-to-work-12-hours-daily-1698329995692#google_vignette">Narayana Murthy highlights low work productivity in India, urges youth to work 12 hours daily</a> 
<blockquote class="twitter-tweet">
With this statement, Mr. Murthy is essentially pushing women out of the workplace. Men are never going to share the load of housekeeping, caregiving and childrearing. With a 70 hour work week, women will have no choice but to drop out. <a href="https://t.co/U9IapSHDZv">https://t.co/U9IapSHDZv</a>
&mdash; Natasha Ramarathnam (@nuts2406) <a href="https://twitter.com/nuts2406/status/1717574024589705503?ref_src=twsrc%5Etfw">October 26, 2023</a></blockquote>
Social media users expressed their discontent, labelling Murthy's call for extended work hours as a form of exploitation and abuse of young talent. Some advocated for a more balanced approach, emphasizing the importance of respecting individuals' well-being and work-life balance. 
<blockquote class="twitter-tweet">
Indirectly <a href="https://twitter.com/hashtag/Infosys?src=hash&amp;ref_src=twsrc%5Etfw">#Infosys</a> founder Narayana Murthy is saying.. work 12 hours per day spoil your mental health due to NO proper sleep after spoiling ur health,spend lakhs of rupees in hospitals for ur treatment increase the business of Infosys increase profit,revenue of Infosys 😁😁 <a href="https://t.co/YEEVdoEoig">pic.twitter.com/YEEVdoEoig</a>
&mdash; Sharanu.N🇮🇳 (@sharanu_ja) <a href="https://twitter.com/sharanu_ja/status/1717733949961806140?ref_src=twsrc%5Etfw">October 27, 2023</a></blockquote>
<blockquote class="twitter-tweet">
<a href="https://twitter.com/NarayanaMurthy?ref_src=twsrc%5Etfw">@NarayanaMurthy</a> Your call for 70-hour work weeks is not just misguided, it's cruel. Exploiting young talent with these demands is nothing short of abuse. We won't tolerate it! Quality work comes from respect, not exhaustion. Time to wake up! 😡 <a href="https://twitter.com/hashtag/WorkLifeRevolt?src=hash&amp;ref_src=twsrc%5Etfw">#WorkLifeRevolt</a> <a href="https://twitter.com/hashtag/RespectTalent?src=hash&amp;ref_src=twsrc%5Etfw">#RespectTalent</a> <a href="https://t.co/zKunqgiSin">https://t.co/zKunqgiSin</a>
&mdash; Sumant (@Sumantk9) <a href="https://twitter.com/Sumantk9/status/1717771427603267994?ref_src=twsrc%5Etfw">October 27, 2023</a></blockquote>
Amidst the criticism, there were voices in support of Murthy's stance. Ola CEO Bhavish Aggarwal agreed with Murthy, echoing the sentiment that this is a pivotal moment for India to focus on nation-building efforts. Despite the divide in opinions, Murthy's remarks have undeniably sparked a nationwide conversation about work culture, labour rights, and the balance between personal life and professional commitments. The debate continues as people grapple with the complexities of modern work expectations in India.
<blockquote class="twitter-tweet">
Totally agree with Mr Murthy&rsquo;s views. It&rsquo;s not our moment to work less and entertain ourselves. Rather it&rsquo;s our moment to go all in and build in 1 generation what other countries have built over many generations! <a href="https://t.co/KsXQbjAhSM">https://t.co/KsXQbjAhSM</a>
&mdash; Bhavish Aggarwal (@bhash) <a href="https://twitter.com/bhash/status/1717517238650188068?ref_src=twsrc%5Etfw">October 26, 2023</a></blockquote>

Infosys postpones campus hiring: Indian IT giant Infosys has decided to skip the campus recruitment this year. Check out for more details here.

Tech Jobs: Infosys postpones campus hiring for this year

As Infosys had already recruited 50,000 freshers last year, the company has decided to postpone the campus hiring this year

Tech Jobs: Infosys postpones campus recruitment for this year

<h2>As Infosys had already recruited 50,000 freshers last year, the company has decided to postpone the campus hiring this year</h2>

Tech Jobs:&nbsp;Indian IT giant Infosys has announced that it will not be conducting campus recruitments for the time being. The IT major had recruited more than 50,000 freshers just last year. Infosys' Chief Financial Officer, Nilanjan Roy, made this announcement during the company's second-quarter earnings call.
<h3>Infosys Postpones Campus Recruitment</h3>
During the earnings call, CFO Nilanjan Roy mentioned that the firm already has a substantial fresher bench and that it has the need to amplify the utilization. Hence, the decision to postpone recruitment is made.
Also Read: <a href="https://www.editorji.com/business-news/campus-hiring-engineering-students-stare-at-a-tough-placement-season-1695012663796">Campus Hiring: Engineering students stare at a tough placement season</a>
"Last year, we hired 50,000 freshers and hired ahead of demand...we still have a significant fresher bench... we are, of course, training them on Gen AI...but we still have a way to go on utilization, and at the moment are not going to campuses as yet...we will monitor this every quarter looking at our future projections", Roy said.
As per Economic Times, he also mentioned that as far as this year is concerned, the company is unlikely to visit any campus. Infosys, however, said that it remains committed to honoring all the offers it has extended, onboarding candidates as projects become available.

TIME Magazine has looked at employee satisfaction, revenue growth, sustainability & corporate governance to rank the companies 

World's Best Company'2023: Infosys among top 100 companies; the only Indian firm to enter the club

TIME Magazine has looked at employee satisfaction, revenue growth, sustainability &amp; corporate governance to rank the companies&nbsp;

Infosys is the only Indian firm in the top 100 firms of TIME Magazine's list of World's Best Companies of 2023. Out of the 750 global companies, Infosys is ranked at 64 with an overall score of 88.38.&nbsp;
Apart from being the only Indian company in the top 100, Infosys was also one of the top 3 professional services companies on the list.
Also Read: <a href="https://www.editorji.com/business-news/infosys-liberty-global-ink-1-6-bn-deal-to-scale-digital-entertainment-connectivity-platforms-1692176034272">Infosys, Liberty Global ink $1.6-bn deal to scale digital entertainment, connectivity platforms</a>
TIME has looked at employee satisfaction, revenue growth, and sustainability or environmental, social, and corporate governance to rank the companies.&nbsp;
The organisations in the top 4 include Multinational companies that are based in the U.S includes Microsoft, Apple, Alphabet and Meta Platforms. Meanwhile, Accenture, Pfizer, American Express, Electricite de France, BMW Group, Dell Technologies, LVMH Moet Hennessy - Louis Vuitton, Delta Air Lines, Enel, Starbucks Corp, Volkswagen Group, General Motors, Elevance Health, Bosch, Ford, Johnson &amp; Johnson are in the top 20.
TIME magazine also cited an example of Microsoft which made $72 billion in its most recent fiscal year, a 63% increase from 2020, while also reducing overall emissions by 0.5%.&nbsp;

Due to strong performance, Infosys rewards employees with 80% variable pay for Q1FY24. Revenue at $4,617M, 11% YoY net profit rise. The company's growth strategy fueled by AI capabilities and commitment to client needs

Infosys boosts employee variable pay to 80% for Q1FY24 following good performance

Due to strong performance, Infosys rewards employees with 80% variable pay for Q1FY24. Revenue at $4,617M, 11% YoY net profit rise. The company's growth strategy fueled by AI capabilities and commitment to client needs

One of India's leading IT services companies, Infosys, has announced a significant 80% average variable pay for its employees for the quarter ending on June 30. This decision follows a commendable performance in the first quarter of the fiscal year 2024. The distribution of variable pay is scheduled to coincide with the disbursement of August salaries
In an email from the Human Resources department to the employees, the company conveyed its commitment to fostering growth and embracing evolving client needs. The email wrote, &ldquo;We delivered a good performance in Q1, setting a robust foundation for future expansion. We remained committed to helping businesses accelerate their digital journeys and catering to emerging client requirements.&rdquo;
Infosys' financial report for Q1FY24 highlighted an 11% YoY increase in net profit, with a revenue of $4,617 million. Operating margins for the quarter stood at 20.8%, exhibiting an 80 basis point growth compared to the same period last year. Notably, while the operating margin was down 20 basis points QoQ from the previous quarter, the company achieved large deal wins amounting to $2.3 billion.
The FY24 revenue guidance, however, saw a revision, with Infosys lowering expectations to a range of 1-3.5%, a decrease from the earlier projection of 4-7%.&nbsp;
This variable pay adjustment marks a notable increment from the previous quarter's 60% variable pay. Infosys continues to position itself for growth and expansion, leveraging its generative AI capabilities and comprehensive AI offering, Topaz, to enhance service delivery and transform client experiences. Also Watch: <a href="https://www.editorji.com/business-news/infosys-liberty-global-ink-1-6-bn-deal-to-scale-digital-entertainment-connectivity-platforms-1692176034272">Infosys, Liberty Global ink $1.6-bn deal to scale digital entertainment, connectivity platforms</a>

Infosys-Liberty Global deal will create career opportunities for over 400 Liberty Global employees joining Infosys

Infosys, Liberty Global ink $1.6-bn deal to scale digital entertainment, connectivity platforms

Infosys-Liberty Global deal will create career opportunities for over 400 Liberty Global employees joining Infosys

Converged video, broadband and communications company Liberty Global and IT services firm Infosys on Tuesday announced expanding their collaboration to scale Liberty Global's digital entertainment and connectivity platforms in a multi-year deal valued at &euro;1.5 billion (about USD 1.63 billion).
Infosys will provide services to Liberty Global estimated at &euro;1.5 billion over the initial 5-year term and the size of the contract will touch &euro;2.3 billion if extended to 8 years.
The parties have entered into an initial 5-year agreement, with an option to extend to 8 years and beyond.
Under the terms of the pact, senior executives and technology teams from Liberty Global's product, technology development service delivery group, network and shared operations and security groups will transition to Infosys.
The expanded collaboration will create "exciting career opportunities" for over 400 Liberty Global employees joining Infosys, who will benefit from its global scale and reach, according to a statement.
"Infosys will provide services to Liberty Global estimated at &euro;1.5 bn over the initial 5-year term and at &euro; 2.3 bn if the contract is extended to 8 years. The collaboration allows Liberty Global to realise run-rate savings in excess of &euro; 100 million per annum, inclusive of other savings and technology investments," the statement said.
Building on an existing multi-year collaboration which has supported Liberty Global's technology services platforms since February 2020, the two sides will significantly expand the programme, with the Indian IT services major taking over build and operations of Liberty Global's Horizon entertainment and connectivity platforms.
"Liberty Global, one of the world's leading converged video, broadband and communications companies, and Infosys, a global leader in next-generation digital services and consulting, today announced that they have expanded their collaboration to evolve and scale Liberty Global's cutting-edge digital entertainment and connectivity platforms," the statement said.
By bringing the scale and breadth of Infosys, including technologies such as Infosys Topaz AI offering, the expanded collaboration ensures continued operational excellence, a scalable development engine for new features and capabilities, and efficiencies for Liberty Global.
In addition, Liberty Global is licensing these platforms to Infosys so the digital services provider can offer services to new operators and new markets outside the Liberty Global family.
This will potentially enable millions of new customers, globally, to experience next-generation digital entertainment and connectivity services through Horizon for the first time. Liberty Global will continue to control product roadmaps and retain all intellectual property for the Horizon entertainment and connectivity platforms.
On transition of senior executives and technology teams to Infosys, the statement said they will benefit from global business exposure, scale, and wider career advancement opportunities. They will also play an important role in shaping the future of Infosys' communications, media and entertainment business and add significantly to its engineering capabilities.
"The agreement is subject to regulatory approvals and consultations with relevant Works Councils," it added.
Mike Fries, CEO of Liberty Global, said strengthening and expanding collaboration with Infosys gives the solutions new scale with the ability to reach many more markets and bring positive experiences to more customers.
"And while it produces substantial central cost savings over time, it also provides excellent opportunities for our talent to grow their specialist skills and nurture impactful careers with Infosys. We look forward to working together to accelerate innovation and make our entertainment solutions even more powerful and engaging as new generations of digital-first customers continue to demand more from us all," Fries added.
Infosys CEO Salil Parekh said the company is excited to bring Infosys Topaz to enable transformative AI-first capabilities to complement the cloud-first digital foundation laid for Liberty Global using Infosys Cobalt.
"This will unveil a new chapter in our joint journey of innovation as we reimagine entertainment and the connectivity experience for millions of global consumers. The strength of our global operations will also help the business scale across markets. As we prepare to welcome new talent and teams of innovators to Infosys, we look forward to building on the trust that Liberty Global has in us," Parekh said.

As per Infosys website, for January to March 2023 quarter, Akshata Murty is shown holding 3,89,57,096 Infosys shares, which is 1.07 per cent of total paid up capital of the company 

Infosys shares tumble: UK's first lady Akshata Murty's net worth dips ₹412 cr in one hour 

As per Infosys website, for January to March 2023 quarter, Akshata Murty is shown holding 3,89,57,096 Infosys shares, which is 1.07 per cent of total paid up capital of the company&nbsp;

Shares of Infosys tanked nearly 8% on Friday afternoon after the company reported a lower-than-expected 11% rise in net profit for the June quarter and slashed its FY24 growth outlook.
The stock tumbled 7.89 per cent to Rs 1,337.45 on the BSE while writing this.&nbsp; Not only thuis, the company's market capitalisation (mcap) fell by Rs 43,776.29 crore to Rs 5,57,287.83 crore in morning trade.
Also read/watch: <a href="https://www.editorji.com/business-news/28-gst-on-online-gaming-industry-stakeholders-write-to-pm-narendra-modi-1689938500942">28% GST on online gaming: Industry stakeholders write to PM Narendra Modi</a>
It was the biggest laggard among both Sensex and Nifty firms.
Impact on Akshata Murty's net worth Amidst the share fall, UK Prime Minister Rishi Sunak's wife Akshata Murty - who is one of the promoters of Infosys and daughter of Infosys co-founder Narayana Murthy net worth falls around ₹412 crore (3,89,57,096 x ₹105.80).
As per the shareholding pattern of Infosys for January to March 2023 quarter, Akshata Murty is shown holding 3,89,57,096 Infosys shares, which is 1.07 per cent of total paid up capital of the company.&nbsp;

The deal includes development, modernization, and maintenance services. This move aligns with the growing trend of companies investing in AI

Infosys signs $2 billion AI and automation deal 

The deal includes development, modernization, and maintenance services. This move aligns with the growing trend of companies investing in AI

Infosys has announced an agreement to provide artificial intelligence (AI) and automation services to an existing client. The deal, spanning over five years, is estimated to have a target spend of $2 billion. In a filing to the exchange, Infosys stated that the services included in the agreement encompass AI and automation-related development, modernization, and maintenance.
This move by Infosys comes as companies worldwide are increasingly investing in AI, particularly after the success of Microsoft-backed OpenAI's generative chatbot ChatGPT, which gained significant attention in late 2022. In response to this growing trend, rival Tata Consultancy Services recently revealed its plans to train 25,000 engineers for certification on Microsoft's Azure Open AI. Likewise, Wipro, another competitor, has committed to investing $1 billion in AI over the next three years.
Also Watch: <a href="https://www.editorji.com/business-news/wipro-to-spend-1-billion-to-train-entire-staff-in-ai-launches-ai-first-innovation-ecosystem-wipro-ai360-1689166325880">Wipro to spend $1 billion to train entire staff in AI; launches AI-first innovation ecosystem Wipro ai360</a>
Infosys, headquartered in Bengaluru, had already made strides in the AI field when it launched its generative AI platform called Infosys Topaz in May. The company's dedication to advancing AI technologies aligns with the industry's expanding demand for innovative solutions.
While the client's identity remains undisclosed, this deal signifies a major achievement for Infosys and reinforces its position as a leading player in the software services sector. As the company prepares to release its first-quarter results on July 20

Senior Management employees who generally receive their pay hikes in July have also not received any communication about it

Infosys withholds pay hikes for employees below senior management level: Report

Senior Management employees who generally receive their pay hikes in July have also not received any communication about it

IT giant Infosys has deferred pay hikes for employees below the senior management level, reported Money control. Infosys usually rolls out its appraisal from April.&nbsp;
Multiple employees in the know have confirmed to Money control that they have not received their pay raises that used to come in the June quarter (Q1). The employees are also in the dark regarding when the raise will be delivered.&nbsp;
As per the report, no intimation is given to the senior management employees too, who generally receive their pay hikes in July.&nbsp;
Also watch: <a href="https://www.editorji.com/business-news/tcs-delays-onboarding-of-lateral-recruits-after-bribes-for-jobs-scam-now-faces-project-delays-1689066410847">TCS delays onboarding of lateral recruits; after bribes for jobs scam, now faces project delays</a>
During the pandemic year of 2020, Infosys had skipped pay hike due to cash conservation. It later rolled out hikes in January 2021. In the final quarter of FY23, the company reduced the variable payout on an average to 60% across the organisation.&nbsp;
This, comes as another indicator of the stressful macro economic conditions that companies are in.
&nbsp;

The deal that is signed for the digital transformation of Danske Bank is for a period of 5 years and could be ramped up to $ 900 million

Infosys wins Dankse Bank's contract worth $454 million; to acquire bank's Indian IT centres

The deal that is signed for the digital transformation of Danske Bank is for a period of 5 years and could be ramped up to $ 900 million

Indian IT giant Infosys has signed a deal for the digital transformation of Denmark based Danske Bank that is worth $454-million. This comes a week after TCS announced it was acquiring a $1.1 billion deal from UK's NEST.
Infosys in its exchange filing has said that, the deal is for a period of 5 years and that it could be ramped up to $ 900 million. The filing also mentions that the contract could be renewed for up to another 3 years. 
The company has said that the collaboration will help Danske Bank achieve its strategic priorities towards better customer experiences, operational excellence, and a modernized technology landscape, powered by next-gen solutions.
“Infosys will collaborate with Danske Bank to strengthen their core business with greater digital, cloud and data capabilities. This will help Danske Bank create more value for their customers using powerful advances in AI, including generative AI", said Infosys CEO and Managing Director Salil Parekh. 
The IT company also said that it will acquire Dankske Bank's IT centres that operate in India. Currently the bank's IT centre employs over 1,400 professionals. 
Meanwhile, the Chief Operating Officer of Dankske Bank Frans Woelders has said that Infosys has the tools, experience, and expertise to support the bank in its digital transformation. 
“We have a strong starting point, and we want to further accelerate our digital and technology transformation. We have conducted a thorough process to find a partner that can help us achieve that. Infosys has the tools, experience, and expertise to support us in accelerating our transformation using cloud and AI technologies. Given Infosys’ global presence and scale, this collaboration will also give us access to wider talent pools and capabilities”, said Frans Woelders.

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