Infosys freezes new hiring, promotions and appraisal, says will honour past commitments
Infosys Ltd on Monday made a big announcement regarding new job hirings, promotions and appraisals for the future. The Bengaluru-based MNC made it clear that all new job recruitment and or appraisals were on freeze but the company would honour those candidates whom they have already rolled out the offer letter. The MNC which stated this as a 'no-regret' move, provides business consulting, information technology and outsourcing services.
Infosys, however, assured that it will onboard all the campus hires. Similar steps have been taken by companies like Accenture, Tata Consultancy Services (TCS) and other tech giants who will honour all the job offers made in the last financial year. The company also refrained from making any revenue projections considering the current coronavirus situation across the world. "“Considering the business uncertainty emanating from covid-19, the company is unable to provide guidance on revenues and margins for FY21 at this stage. The company will provide guidance after visibility improves," Infosys said in a statement.
Meanwhile, a large number of companies have rescinded campus job offers to force even IITs to hold second placement drive in late July and August, according to a report by Business Insider.
Pravin Rao who is the COO at Infosys said: "We are yet to onboard only a small percentage of campus hires we made offers to so far." According to Business Insider, the tech company made 18,000 job offers the last financial year.
"We will honour all the commitments made to campus hires-freshers as well as lateral. As far as onboarding timelines are concerned, we have already hired a few lateral employees during lockdown," he added.
Meanwhile, according to the company all the 6,000 trainees will now continue their training via online. The company said: “We will revisit as the situation evolves, keeping the safety of employees a priority. We will also take initiative like temperature check etc."
