FROZEN SALARY….
Recession, now everyone of every age group has familial
with this word. And also know its impact in
Every sector but it would not
be exaggerated if I say that IT sectors are highly affected in economic slump.
Because of economic slowdown
companies like INFOSYS TECHNOLOGY India’s second
Largest firm has made it
clear that the company
Would be soft-pending on
campus recruitment in this year. And Employee of INFOSYS Technologies may have
to live
With the salary cut and
without and significant increment.” a part of our salary is determined by
variable sales
Components, which is the
percentage of company’s revenue” said Infosys director for human resource
T.V. Mohandas pai. ‘Since the
revenue is down, the salary will be trimmed.
Wipro India’s third largest
software exporter, also frozen salaries for current financial year and like
Infosys
Gave no commitment on campus
hiring “outlook for salaries and wages given the current scenario, we have no
plans for
Increase in the course of the year.” the Bangalore –headquartered New York stock.
India’s largest soft ware exporter TATA CONSULTENCY SERVICES (TCS) has announced its plan to review the variable
Components of employee’s salaries every quarter in attempt to cut costs. Variable pay account for 20 to 35 percent of
TCS employees gross salary, depending on their hierarchy. The company has reportedly laid off over100
Employees in the U.K.The Company had earlier cut employees variable pay by around 1.5 percent in February 2008.
“We are trying to reduce costs. Our largest expenditure –around 55 percent of our gross revenue.is man power cost
and employees salaries . we are not contemplating a pay reduction, but we are reviewing the employees variable pay.”CEO & MD
S RAMADORAI, “BUSINESS STANDERD” quoted him as saying.
The level of increments would also be pegged lower in the coming year with more than 83 percent of the respondents stating that
salary hikes in2009 would be lower than that planned for originally.
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