Infosys' employees gearing up for pink slips and new CEO

Indian software giant Infosys is gearing up to let go of non-performers who draw high salaries. The organization wants to cut costs and increase operational efficiency; and may hand over pink slips to those who did not add value despite high salaries.

Executive Chairman NR Narayana Murthy, was stated as saying at the Bank of America Merrill Lynch India Investor Conference, "One of my tasks was to ensure that the identified people who were receiving very high salaries but were not contributing as much as we wanted, were either given opportunities where they can add value to the company or they could seek opportunities elsewhere". Murthy added that Infosys' costs have increased over the last 2-3 years, one of the reasons being increased cost in on-site compensation for employees outside India.

In addition, Murthy revealed that Infosys will have a new CEO by March 2015, when co-founder and present CEO SD Shibulal retires. The new CEO is most probably going to be an internal candidate with the two strong contenders being BG Srinivas and UB Pravin Rao, who were recently elevated as presidents.