Many companies laid off their employees and implemented pay cuts after the central government imposed COVID-19 lockdown following the outbreak of coronavirus in India. However, a few firms during that period gave their employees bonuses and did not cut a certain percentage of salaries.
Now, various firms have started restoring salaries and some are also returning the deducted amount. According to a report in The Times of India, Accenture has not only given bonuses to a majority of its two lakh employees in India but is also planning promotions in the December cycle.
The report added that the bonus payout in November stood at 75 per cent of the target amount. The biannual bonus payout is being said to be higher than what was given in May.
The firm has increased salaries of junior and mid-level employees between six and 11 per cent. “In addition to training, we have given meaningful pay raises and bonuses aligned to our fiscal year 2020 performance,” TOI quoted the company’s spokesperson as saying.
Asserting that they are committed to pay equity, the spokesperson said that they are planning to promote its employees in the December cycle.
However, Accenture has not revealed how much amount it paid as bonuses and how many promotions it is planning to give.
The firm has divulged that it has increased the training hours by six per cent and has spent approximately $900 million for it. They have trained more than 70,000 employees in skills required by clients in technology services alone since March 1.
In August, a report surfaced in the media informing that Accenture would lay off at least five per cent of its workforce. IANS reported about the layoffs, citing the Australian Financial Review (AFR).
"This year, across all parts of our business and all career levels, we will identify approximately five per cent of our people as our lowest performers, and these individuals will transition out of Accenture," said the company.
Out of its five lakh employees globally, two lakh are in India. Five per cent of the two lakh workforce means 10,000 employees.