Bad news! Infosys defers pay hike for staff

Infosys, bellwether of India’s IT sector, has decided to defer the salary hike for its employees, a Money Control report says. The report says usually, the salary hike is communicated to all staff below senior management by June. But this year, the staff haven’t received any kind of communication. The report says that the decision shows that the IT sector is facing tough conditions due to present macroeconomics conditions. This is the first time since 2020 that Infosys has deferred the salary hike. At that time, the IT giant had frozen the raise. A year later in 2021, the pay hikes were rolled out, the report further added.