Infosys on Tuesday annouced a salary hike of 6-7% for its employees effective April, even as attrition at the country's second largest IT services exporter stood at 18.7% in the fourth quarter of FY14, one of the highest in the company's history.
Infosys CEO SD Shibulal said employees in India will get a 6-7% hike this year while it will be 1-2% for the onsite employees. The announcement came in the wake of Infosys failure to stem the exodus despite announcing a 6-8% hike nine months ago.
However, it has been the rising attrition rate of Infosys which has been worrying the analyst community. The attrition level rose to 18.7% in the fourth quarter of FY14 from 18.1% in sequential third quarter while 12 months ago, it stood at 16.3%.