Infosys rolls out 60% variable pay in the fourth quarter of 2023

Infosys has reportedly rolled out an average of 60% variable pay for the fourth quarter of 2022-23. The quarter was impacted by volatile markets and uncertainties, as per the documents accessed by Economic Times. This is lowest during the fiscal year 2023. India’s second-largest software company had rolled out 70% variable pay during the first quarter of FY23 and 65% in the second quarter.

Employees will receive their performance pay in the May payroll, said an internal communication addressed to employees. “While FY23 was a year of strong performance overall, the quarter that went by was impacted by a volatile market and unforeseen events,” the company said in the memo to employees. “As we remain vigilant to the changes in the market, we must also see this as an opportunity to rally as a group and remain committed to navigating the changing business landscape,” it said.