Infy’s Effort to Cut Costs
With the global meltdown taking toll on everyone, India’s TOP IT firm Infosys is also feeling the heat to reduce the cost of its operations. So many initiatives have been taken in an effort to cut the costs by all possible means.
To list some of them,
1. Every Employee is urged to save atleast $10 for the company in one way or the other,which is expected to save about $1,000,000 as the total staff count to 100,000.
2. Employees are encouraged to login before 8 AM in the morning every day in a month to get a cash reward of 500 Rs. This is expected to result in more production time and better utilization of company bus services.
3. Luxury expenses for Sales & Marketing, Infrastructure have been reduced, but the cost for Training and RND not be reduced given the importance.
4. Performance Measures : There will be 5% employees with lowest rating ‘Underperforming’, These employees will have to attend a 6 month mentoring program by Sr. Executives though they are allowed to continue working in their current assignments, 50% of these underperforming staff will go back to the system after the mentoring program, others will be shown the door much well in advance it is learnt. This measure is expected to affect atleast 5,000 people in total.
5. Cutting Travel Cost : Employees are adviced to travel in economy class if the travel time is less than 4 hrs.
6. Variable Pay Cut : Big Slash is expected in variable pay component, This will affect the Sr. Excutives more as their salary depends much on this variable pay component.
7. Less Pay Hike : Only less than 10 percent pay hike is expected this year.
8. Cost Cutting Portal : It has setup a portal to invite ideas from everyone to cut the costs, its learnt that more than 1000 ideas have already been received and under review for implementation.
So infy employees could undergo many more cost cutting measures like this in coming days, Good that they are fortunate enough to hold on to their jobs unlike other company employees.
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