Infosys cuts Q4 variable pay to 60%

In a sign of tough times for the software services companies, Infosys has reduced the average variable payout at an organisational level to 60% for Q4 FY23. The company has informed the same to its employees in an internal mail. In the first quarter of FY23, Infosys had lowered the variable payout to 70%, which was subsequently reduced in the second quarter to 65%.

It has said that an employee’s final variable payment will be governed by their unit/department guidelines. “The performance bonus payment for delivery and business enabling functions for Q4 FY23 is scheduled to take place in the payroll of May 2023,” Infosys has informed the employees.

“While FY23 was a year of strong performance overall, the quarter that went by (Q4) was impacted by a volatile market with unforeseen events.