Single digit pay hike at Infosys

India's second largest IT services company Infosys on Friday announced that it would roll out single-digit salary hike for a majority of its employees, effective from April 2018 onwards.

"We are also pleased to announce compensation revision for 85% of our employees starting April. For rest of the employees, primarily middle management and senior management. It will be effective July 1, 2018, and it is for both onsite and offshore employees," Infosys COO Pravin Rao told reporters.

Infosys had a total headcount of 2,04,107 people at the end of March 31, 2018. While the gross addition stood at 12,329 people, the net addition was of 2,416 employees.

The company also announced the acquisition of WongDoody Holding Company, a US-based digital creative and consumer insights agency for a total consideration of $75 million including contingent consideration and retention payouts, subject to regulatory approvals and fulfilment of closing conditions, Infosys said.