Unbelievable! Infosys' Way of Rewarding Its Employees Will Raise The Bar For Other IT Companies

At a time when tech companies are laying off employees as a part of cost-cutting measure, IT giant Infosys has decided to reward its employees by allotting equity shares to its key contributors for growth. Reports claimed that Infosys has allotted more than 5.11 lakh equity shares to eligible employees. The decision was taken in a bid to expand employees' ownership in the company.

"This is to inform that the Company has allotted 5,11,862 equity shares on May 12, 2023, pursuant to the exercise of Restricted Stock Units by eligible employees," said the company in its exchange filing on May 14.

Live Mint reported that Infosys rewarded its staff with equity under two employee-related schemes. While 1,04,335 equity shares were allotted under the 2015 Stock Incentive Compensation Plan, and 4,07,527 equity shares under the Infosys Expanded Stock Ownership Program 2019.

Last month, the Indian IT major reported weaker-than-expected Q4FY23 results, leading to a massive plunge in the share price.

Despite this, chief executive Salil Parekh shared a big update on the company’s mergers and acquisitions (M&A) plans. Commenting on whether the Bengaluru-based IT company is looking at any opportunities, the Infosys CEO pointed out that the present environment is throwing up "good opportunities in the merger and acquisition space". The IT major will look at companies that offer strong strategic and cultural fit, CEO Parekh suggested adding that they are on "look out at all times" for good acquisitions. "This is a good environment for finding it", he added.