Indian IT company Infosys is providing 10%-13% salary increase to the large part of its employees at Infosys.
The company (Infosys) is also giving around 20%-25% more salary to its top performing employees.
The Vice president of Infosys (Shankar) said the salary hike would be between 10 -13% to 20-25% to top performers.
Staffing company Xpheno said that the IT industry is seeing a huge raise in salary & bonuses hike for its employees.
Some of the IT companies like TCS, Wipro and HCL tech have been very slow on hiring and some are not hiring now.
It is estimated that the there has been 41% decline in hiring among the IT services since 2022, said Xpheno.
Companies like Intel, Google, Microsoft and Tesla planning to lay off thousands of employees to cut costs.
IT Companies like Wipro, TCS, Infosys and HCL Tech are facing high attrition rates is already currently 25% high.
The reason for high attrition rates are recorded because there is less growth opportunities compared to others.
Financial services company Revolut has invited applications for it’s for support specialist (KYC) and English.