Infosys CEO addresses low salary hike, toxic work culture allegations
What's the story
Infosys CEO Salil Parekh addressed concerns over the company's work culture during its Q3 earnings call on Thursday.
The discussion was sparked by a former employee's revelations about working conditions at the IT giant.
Parekh was also asked about allegations of inadequate salary hikes within the company, a topic that has been a point of contention lately.
CEO's response
We make sure that everyone is treated fairly: Parekh
Responding to the allegations, Parekh said, "Within Infosys, we have a very clear approach to make sure that everyone is treated fairly."
He stressed the company has a clearly defined process for assessing performance as far as salary hikes are concerned.
The comments came in the context of Bhupendra Vishwakarma's viral LinkedIn post explaining why he left Infosys even though he didn't have another job offer and despite being the sole breadwinner in the family.
Employee's perspective
Vishwakarma's post details reasons for leaving Infosys
In his LinkedIn post, Vishwakarma listed a number of reasons for leaving Infosys.
These included lack of financial growth despite promotion, unfair workload distribution, stagnant career prospects, toxic client environment, and regional bias.
He said that these issues are reflective of bigger problems in corporate workplaces and he felt compelled to speak openly about them.
Company outlook
Infosys's financial performance and future hiring plans
Amid the ongoing controversy, Infosys reported a net profit of ₹6,806 crore for the quarter, marking an 11.46% year-on-year growth.
The company also reaffirmed its commitment to hire approximately 15,000 freshers in FY25 and over 20,000 in FY26.
Infosys has also updated its revenue growth guidance for the entire fiscal year 2024-25. The company now expects a growth rate between 4.5% and 5%, up from the earlier forecast of 3.75% to 4.5%.