Infosys, an Indian IT services company, has requested a segment of its workforce, particularly those in band 5 and 6 levels comprising mid-level managers and entry-level employees, to work from the office for a minimum of 10 days each month. This directive came through an email to the specified employees, although during the pandemic, remote work had been broadly allowed and strictly in-office work was not enforced, as per one employee’s remarks to Business Today. The company is yet to confirm this specific request for office presence. Infosys CEO Salil Parekh previously mentioned a flexible approach towards remote work during the company’s Q2 FY24 earnings call.
Infosys is not alone in the move towards in-office work, as its competitor, Tata Consultancy Services (TCS), has also mandated some teams to work entirely from the office. TCS CEO, K Krithivasan, articulated that working from the office supports better customer interaction, mentoring on company culture, and colleague relations.
Financially, Infosys observed a 3% year-on-year increase in net profit, amounting to Rs 6,212 crore for the September quarter. Revenues also demonstrated an upsurge, marking a 6.7% increase to Rs 38,994 crore in Q2. In dollar terms, revenue exhibited a 3.6% rise to $4,718 million compared to $4,555 million in the same quarter the previous year. The board of Infosys sanctioned an interim dividend of Rs 18 per equity share, scheduled for payout on November 6, 2023, with a record date set for October 25, 2023.
