The variable pay or performance pay at IT services companies depends on the company’s overall performance, along with the performance of individual employees.
The emails instruct the employees to move to newly assigned locations within two weeks. The email also noted that based on the company’s policies, employees will be able to reimburse travel and accommodation costs.
The recent developments hint towards the Indian IT sector phasing out remote work and bringing employees back to offices. This comes at a time when major IT players are trying to reduce inefficiencies
The Indian IT sector is facing headwinds due to the broader macroeconomic conditions and cutbacks on discretionary spends. Amid this another prominent trend is multiple senior level executives exits
As per the numbers shared during the Q2 FY 2023-24 results, the 10 largest companies saw their workforce fall to 20.6 lakh people at the end of September from 21.1 lakh employees at the beginning of the fiscal year, resulting in a loss of 51,744 jobs.