Latest news with #QuarterlyVariableAllowance
&w=3840&q=100)
Business Standard
15-05-2025
- Business
- Business Standard
Infosys rolls out 65% bonus for Q4 FY25, down from previous quarters
India's second-largest IT services firm, Infosys, has announced an average employee bonus of 65 per cent for the fourth quarter of FY25, Moneycontrol reported on Thursday, citing sources. The quarterly bonus will roll out with the May salary. In comparison, the firm rolled out an average bonus of 80 per cent in Q3 FY25, and 90 per cent in Q2 FY25, the report added. A senior Infosys employee told The Economic Times that this is the lowest bonus he has received in his ten years with the company. What did the company say? In an email regarding the bonus addressed to the employees, Infosys said, "Amidst the complex macro-economic environment in Q4, we remained client-focused and responsive to market needs." According to media reports, the IT major had earlier informed some employees that their performance bonuses for the fourth quarter of financial year 2024-25 will be lower, amid declining profits. Who gets the bonus? Infosys employees and Job Level 5 and 6 are usually awarded the bonus, reported The Economic Times. This includes team leaders, managers, senior managers, and delivery managers. A weak quarter The bonus roll out comes shortly after Infosys reported a Q4 net profit of ₹7,033 crore — an 11.7 per cent drop from a year earlier. The decline was attributed to increased selling and marketing expenses. However, its revenue grew 7.9 per cent to ₹40,925 crore. While the profit was above estimates, revenue missed Street expectations. While announcing the results, the company also predicted weaker than expected revenue growth for FY26. Cloudy journey ahead for Indian IT companies Infosys is not the only IT company signalling a difficult year ahead, with global economic uncertainty, tariff disruptions and cautious client spending clouding the sector's outlook. India's largest IT firm, Tata Consultancy Services, last month said that it would defer annual wage hikes to its 607,000 employees due to the business uncertainties triggered by the tariff issues. However, it added that it has paid out 100 per cent of the Quarterly Variable Allowance (QVA) to more than 70 per cent of its workforce for the January-March quarter. Wipro, on the other hand, has yet to make any announcements regarding salary hikes. Infosys distributed salary revision letters to its employees in February, with most getting a 5 to 8 per cent hike. Moreover, for Q3 FY25, the company reportedly paid an average 80 per cent performance bonus to eligible employees across the delivery and sales units.
Business Standard
13-05-2025
- Business
- Business Standard
Infosys signals lower Q4 bonus payouts for employees amid profit decline
India's second-largest IT services firm, Infosys, has informed some employees that their performance bonuses for the fourth quarter of financial year 2024-25 will be lower, amid declining profits, The Economic Times reported. According to the report, senior HR executives and managers conveyed the development to members of a large delivery unit during a conference bridge call last week. A staff member, speaking on condition of anonymity, said similar discussions could take place with other teams as well. However, the top executives termed the bonus cuts as a part of a "passing phase", adding that they would try to compensate with better bonus recommendations for eligible performing employees once the growth cycle returns, the report added. The update comes shortly after Infosys reported a Q4 net profit of ₹7,033 crore — an 11.7 per cent drop from a year earlier. The decline was attributed to increased selling and marketing expenses. However, its revenue grew 7.9 per cent to ₹40,925 crore. While the profit was above estimates, revenue missed Street expectations. While announcing the results, the company also predicted weaker than expected revenue growth for FY26. Cloudy journey ahead for Indian IT companies Infosys is not the only IT company signalling a difficult year ahead, with global economic uncertainty, tariff disruptions and cautious client spending clouding the sector's outlook. India's largest IT firm, Tata Consultancy Services, last month said that it would defer annual wage hikes to its 607,000 employees due to the business uncertainties triggered by the tariff issues. However, it added that it has paid out 100 per cent of the Quarterly Variable Allowance (QVA) to more than 70 per cent of its workforce for the January-March quarter. Meanwhile, Wipro has remained silent on salary hikes so far, according to the report. Infosys distributed salary revision letters to its employees in February, with most getting a 5 to 8 per cent hike. Moreover, for Q3 FY25, the company reportedly paid an average 80 per cent performance bonus to eligible employees across the delivery and sales units.
Hans India
07-05-2025
- Business
- Hans India
100% QVA payout to over 70% of TCS staff
New Delhi: Tata Consultancy Services (TCS) has paid out 100 per cent of the Quarterly Variable Allowance (QVA) to more than 70 per cent of its workforce for the January-March quarter. The company clarified that for employees in other grades, the QVA payout is determined by the performance of their respective business units, which is consistent with TCS' established policy across quarters. "We have paid out 100 per cent QVA to over 70 per cent of the company. For all other grades, the QVA depends on their unit's business performance. This is in line with our standard practice across quarters," TCS said in a statement. TCS reported a 1.7 per cent decline in the March quarter net profit to Rs 12,224 crore, driven largely by a margin contraction. It logged a total revenue of Rs 64,479 crore in Q4 FY25, up 5.3 per cent over the year-ago period.
&w=3840&q=100)
Business Standard
06-05-2025
- Business
- Business Standard
TCS pays 100% quarterly variable allowance to over 70% of employees
The company clarified that for employees in other grades, the QVA payout is determined by the performance of their respective business units Press Trust of India New Delhi Tata Consultancy Services has paid out 100 per cent cent of the Quarterly Variable Allowance (QVA) to more than 70 per cent of its workforce for the January -March quarter. The company clarified that for employees in other grades, the QVA payout is determined by the performance of their respective business units, which is consistent with TCS's established policy across quarters. "We have paid out 100 per cent QVA to over 70 per cent of the company. For all other grades, the QVA depends on their unit's business performance. This is in line with our standard practice across quarters," TCS said in a statement. TCS (Tata Consultancy Services) reported a 1.7 per cent decline in the March quarter net profit to Rs 12,224 crore, driven largely by a margin contraction. It logged a total revenue of Rs 64,479 crore in Q4 FY25, up 5.3 per cent over the year-ago period. The company added 625 employees in the quarter, bringing its total workforce to over 6 lakh. While announcing its Q4 and FY25 earnings last month, TCS had said that it would be deferring annual wage hikes to its 6.07 lakh employees due to the business uncertainties triggered by the tariff issues. The company's chief human resources officer Milind Lakkad cited business uncertainties for the delay in annual wage hikes, which generally set in from April. He, however, did not give a timeline for when the company will announce the hikes.
NDTV
06-05-2025
- Business
- NDTV
TCS Pays Full Quarterly Variable Allowance To Over 70% Of Employees
New Delhi: Tata Consultancy Services has paid out 100 per cent of the Quarterly Variable Allowance (QVA) to more than 70 per cent of its workforce for the January -March quarter. The company clarified that for employees in other grades, the QVA payout is determined by the performance of their respective business units, which is consistent with TCS's established policy across quarters. "We have paid out 100 per cent QVA to over 70 per cent of the company. For all other grades, the QVA depends on their unit's business performance. This is in line with our standard practice across quarters," TCS said in a statement. TCS (Tata Consultancy Services) reported a 1.7 per cent decline in the March quarter net profit to Rs 12,224 crore, driven largely by a margin contraction. It logged a total revenue of Rs 64,479 crore in Q4 FY25, up 5.3 per cent over the year-ago period. The company added 625 employees in the quarter, bringing its total workforce to over 6 lakh. While announcing its Q4 and FY25 earnings last month, TCS had said that it would be deferring annual wage hikes to its 6.07 lakh employees due to the business uncertainties triggered by the tariff issues. The company's chief human resources officer Milind Lakkad cited business uncertainties for the delay in annual wage hikes, which generally set in from April. He, however, did not give a timeline for when the company will announce the hikes.
