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Tough times ahead for Infosys employees
February 17, 2009 19:16 IST
Employees of Infosys Technologies may get pay hikes below 10 per cent this year, the company's chief financial officer S D Shibu Lal said on Tuesday.
"Right now there is not much expectation. Employees are given an increment (generally) in April. In 2008-09 overseas employees received a pay hike of 14 to 15 per cent, while onsite employees received a 4 to 5 per cent hike," Lal said on the sidelines of a meet organised to announce Infosys [Get Quote] India Prizes.
"This year, the hikes will be lower, maybe in single digits (in percentage terms)," he added.
Alluding to the macro economic environment, he said "once the environment stabilises, with a lag of two quarters, pricing and demand environment will also stabilise".
"There has been no change in deal size. Even though the deal pipeline is pretty strong, decisions are getting slower especially when it comes to discretionary spending," he said.
About the financial year 2009-10, he said "the environment is going to be tough. It will continue to be challenging".
The IT major also confirmed that it was actively pursuing acquisition, but did not elaborate. On pursuing clients of scam-hit Satyam [Get Quote], he said, "We are not actively pursuing Satyam clients. Yes, some of them have approached us and we have received some proposals for transition".
"However, nothing had materialised," he added.
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