Indian IT services company Infosys has asked some employees to return to the office for 10 days a month. The email was sent to employees in entry to mid-level roles.
Work from office at Infosys
An email sent to employees in the band 5 and 6 levels (which includes mid-level managers, project heads, and entry-level employees) has asked them to be in office 10 days a month, which is the minimum requirement of work from office. Interestingly, this requirement was not strictly enforced and since the pandemic employees were allowed to work remotely full time, an employee told Business Today.
Business Today has reached out to Infosys for a confirmation on the same.
CEO’s take on WFO
Infosys CEO Salil Parekh had noted during the company’s Q2 FY24 earnings call that the IT company has a flexible policy around remote work.
“There are some instances, for example, with specific client work or specific type of engagement where we feel it’s better that everyone is working together. But in general, our view is we want to support this flexible approach. It’s something that we believe is appropriate given how we’ve set up the work-from-home infrastructure," he had said.
WFO at other IT players
Infosys isn't the only IT major to ask its employees to work from office. Recently, its competitor, Tata Consultancy Services (TCS) too some teams to work from office full time.
“We believe working from the office is good for the associates, customers and TCS. You're talking only about work output in terms of how they deliver to customers, but how do they get mentored on culture? How do they get mentored on how they deal with customers and colleagues," K Krithivasan, CEO, TCS, had said during a previous earnings conference,
Infosys Q2 FY24 financials
The IT major reported 3 per cent year-on-year (YoY) rise in net profit at Rs 6,212 crore for the September quarter compared with Rs 6,026 crore in the year ago quarter.
Revenue in the September quarter rose 6.7 per cent to Rs 38,994 crore in Q2 against Rs 36,538 crore in the corresponding quarter of the last year. The company reported a 3.6 per cent rise in revenue in dollar terms to $4,718 million in Q2 against $4,555 million in the September quarter. On a sequential basis, revenue grew 2.2 per cent from $4617 million.
Infosys's board approved an interim dividend of Rs 18 per equity share. It has fixed October 25, 2023 as record date for interim dividend and November 6, 2023 as the payout date.