Infosys, in the season of mass layoffs, has ended up allotting over 5 lakh equity shares to its employees under the 2015 Stock Incentive Compensation Plan
Infosys has allotted over 5.11 lakh equity shares to eligible employees in a bid to expand their ownership in the company. The decision comes at a time when other tech companies are laying off employees as part of cost-cutting measures. Infosys rewarded its staff with equity under two employee-related schemes, 1,04,335 equity shares were allotted under the 2015 Stock Incentive Compensation Plan, and 4,07,527 equity shares under the Infosys Expanded Stock Ownership Program 2019. Last month, the company reported weaker-than-expected Q4FY23 results but is "on the lookout at all times" for good acquisitions., Companies News, Times Now
Read Latest Technology News Quickly Here | As per the reports, 1,04,335 shares were allotted under the 2015 Stock Incentive Compensation Plan, and 4,07,527 equity shares were allotted under the Infosys Expanded Stock Ownership Program of 2019.
This comes just a month after Infosys posted a 7.8 per cent year-on-year rise in consolidated net profit at Rs 6,128 crore in the March quarter of FY23, below street estimates.