As the coronavirus outbreak has taken all over the globe, it has also shown its effect on IT companies, whereas IT giant Infosys has said pressure on margins could be visible in the near term, but the company is seeing increased client interest in cloud services.
According to the report of Hindustan Times, Infosys CFO Nilanjan Roy, through a video conferencing call, said the company has stopped hiring, promotions and salary hikes in an attempt to manage costs in order to offset the damage caused by the COVID-19 pandemic as well as the lockdown.
“Infosys will honour all hiring commitments it has made,” Roy said.
He further added that retail, travel and hospitality, energy and oil segments have been the most affected in the current environment. According to Roy, cards and payments sectors will also struggle.
Rao said that the firm’s employees will return to offices in a phased manner. “We are in no hurry to get employees back to offices. Our first phase of returns, when it happens, will be likely to get 5% of employees returning, and in the next phase will total about 15%,” he said.
Rao said that the company will make 35,000 job offers in FY21.