- Friday, February 28, 2025
Indian software majors are facing pressure from weak discretionary spending, delayed client budgets and ongoing macroeconomic uncertainties
By: shajil kumar
INDIAN software major Infosys has deferred annual wage hikes to the fourth quarter of the current financial year (Q4FY25), as it copes with the broader uncertainty in the global market, Moneycontrol.com reports.
The Bengaluru-based company last implemented salary hikes in November 2023.
Indian software majors are facing pressure from weak discretionary spending, delayed client budgets and ongoing macroeconomic uncertainties.
Infosys chief financial officer Jayesh Sanghrajka had in October said the company was “planning” wage hikes in Q4 in a phased manner – some part will be implemented in January and the rest in April.
Rivals HCLTech, LTIMindtree, and L&T Tech Services also skipped salary increments in the second quarter to manage costs and sustain profitability.
Analysts claim that a lacklustre job market has given IT firms confidence that delaying salary hikes won’t increase employee attrition levels.
