5 times annual salary as severance pay!

At the end of last year (2015) Infosys CFO Rajiv Bansal put in his papers and left to head ride-hailing service Ola’s finance division. Bansal earned Rs 4.72 crore in the previous year. Unlike an average software engineer who is asked to leave the company with 2 or 3 months salary, Bansal got almost 5 times his annual salary (Rs 23.02 crore) as severance pay.

infosys-ex-cfo-rajiv-bansalThis shows that the financial elites who move in the upper echelons of IT companies have quite a different rules applied only to themselves, while the majority of employees are kept under constant tension and office politicking to keep things safe in life.

News Sources

  1. Infosys reveals it paid outgoing CFO Rajiv Bansal over Rs23 crore
  2. Proxy firms question Infy’s severance package to ex-CFO

Permanent link to this article: http://new-democrats.com/five-times-annuals-salary-as-severance-pay/

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