In the wake of coronavirus, IT firm Infosys said pressure on margins could be visible in near term. However, its CEO Salil Parekh said the company is seeing increased client interest in cloud services.
Infosys CFO Nilanjan Roy, through a video conferencing call, said the company has stopped hiring, promotions and salary hikes to manage costs in order to offset the damage caused by the pandemic. "Infosys will honour all hiring commitments it has made," said Roy.
He further said that retail, travel and hospitality, energy and oil segments have been the most affected in the current environment.
Roy said cards and payments sectors will also struggle. COO Pravin Rao said that the IT major is not looking at any Covid-19-related layoffs "at this