- The company’s CEO, CFO, accused of using unethical methods to increase profits.
- Nilekani said – speculation about co-founders’ hand behind complaints is wrong
IT company Infosys said on Wednesday that speculation about the company’s co-founders and former employees being involved in complaints of whistleblowers resulted from poor thinking by some. Company Chairman Nandan Nilekani said – This was done to tarnish the image of the most dignified and respected persons. I highly respect the contribution of all the co-founders of the company. According to media reports, Nilekani said on the allegations of attempts to manipulate the financial data God can not change that.
A law firm investigating whistleblower allegations: Nilekani
Nilekani said that the Infosys co-founders acted selflessly. He remained committed to the success of the company for a long time. A law firm is investigating the allegations of whistleblowers independently. They will communicate their results to all concerned at the right time.
#Infosys to let go of 10% of its workforce, around 2,200 people
The IT sector is seeing large scale layoffs. India is particularly vulnerable to these job cuts. When unemployment is already at a 45 year high, more job cuts can have a catastrophic effect.https://t.co/kWnhLJ6mtP
— Shama Mohamed (@drshamamohd) November 5, 2019
On October 21, Infosys had reported that unidentified employees of adopting unethical methods of accounting, which were being investigated had accused CEO Salil Parekh and CFO Nilanjana Roy.
— Rajesh Abraham (@pendown) November 6, 2019
According to the allegations, Parekh and Roy misapplied to increase the company’s revenue and profits. The company said last Monday that they had yet found no evidence to support the whistleblower allegations.
Infosys shares rose 2.4%
The stock closed at Rs 712.30, up 2.37% on the BSE. The NSE closed at Rs 712.50, up 2.36%. The intra-day was up to Rs 721.50 on both exchanges.