Verizon has conveyed to 1,400 of its employees — 700 each from Chennai and Hyderabad— that they will be shifted to Infosys by the end of this year, to work on the latter’s projects for a year, and then be transferred to other projects.
The transfer of these employees was discussed by the leaders of the two companies at a formal meeting. The process of transfer is to begin in the second week of October and is expected to be completed by the end of the year.
It is reported that the concerned employees will receive appointment offers from Infosys.
Verizon employees who accept the same will reportedly enjoy full compensation and other comparable benefits for a minimum of one year following the effective date of employment.
As per reports, Infosys entered into a $700-million deal in September for digital transformation of Verizon’s ‘select business functions’. This is said to be the biggest deal by Infosys since the appointment of Salil Parekh as CEO early this year. Infosys, like so many other similar organisations is focussing on business revival as customers across the globe are putting funds into business transformation and other innovative digital technology-based services.