 "Infosys' Shibulal writes to clients; addresses guidance, visa row")
By Kritika Saxena
In a letter to Infosys’ clients, Chief Executive SD Shibulal, addressed concerns over the company’s revenue guidance and the ongoing visa investigation.
The department of Homeland Security has found clerical errors in the filing of i-9 forms and is now investigating if these errors are deliberate. Shibulal, in his letter, assured clients that the company has provided the information requested by the DHS, but it cannot predict the final outcome of the review. However, he promised that Infosys will ensure all internal controls are sound and best in class.
Shibulal said the letter was part of the company’s ongoing dialogue with clients who remain confident in Infosys’ abilities to deliver.
The company added 52 new client accounts in the fourth quarter of financial year 2011-2012. Moreover, it sealed over $100 million deals this quarter alone.
Even though sources told CNBC-TV18 that over 1,000 employees have quit Infosys post the salary hike freeze, Shibulal refused to comment on such rumours and speculation. He, however added that the attrition rate will be announced during the quarterly results and said that the salary hikes have been postponed given the current volatility in the global market. On a more positive note, Infosys has agreed to revisit its decision on salary hikes if the general environment improves.