Infosys, HCLTech put off pay hikes for employees; TCS bucks trend

Two top IT majors have deferred salary hikes for employees amid the ongoing slowdown in the sector as clients are cutting discretionary spending.

Infosys has reportedly decided to defer salary hikes for all its employees below the senior management level that are otherwise rolled out from April every year.

According to a Moneycontrol report, multiple employees have confirmed that they have not received their pay hike due for the June quarter. The report further stated that they have also received no intimation on the delay or when they are likely to receive their pay increases.