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 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
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.
Indian IT companies TCS, Infosys, Wipro, and HCLTech announced their Q2 FY24 earnings earlier this month. A common theme across major IT players was their significant interest in generative AI.
The 59-year-old executive, who assumed office in June, said the investigation into the preferential treatment to recruitment firms by the TCS RMG has been concluded with a list of 19 employees against whom action has been taken for violation of the code of conduct.