Infosys fires employees found guilty of corporate misconduct

Infosys fires employees found guilty of corporate misconduct
Photo Credit: Reuters
9 Mar, 2020

Indian information technology heavyweight Infosys has fired some of its employees after an internal investigation showed that they violated company policies, a company spokeswoman told TechCircle in an emailed statement.

"Infosys is aware of the allegations against certain employees who have been found violating the company’s policies. The employees have been terminated, after a thorough internal investigation. Infosys takes any breach of its policies and code of conduct seriously and we are fully cooperating with the authorities,” the statement added.

Three techies from the Bengaluru-based company were arrested on the charge of cheating by contacting income taxpayers for money on the promise of expediting tax returns, multiple media reports said earlier on Monday, citing local police officials.

Authorities said there was a signatory between Infosys and its client, the income tax department, on the back of which some employees assigned in the associated project were privy to otherwise confidential information on taxpayers, the reports added.

The Narayana Murthy-founded firm has been muddled with several infamous developments in the recent past. The company’s stock price had begun to rally towards the beginning of 2020, having battled whistleblower allegations of financial irregularities.

Read: Infosys Q3 profit beats expectations, firm raises revenue guidance

Monday’s closing price saw the stock’s value tank by 4% to Rs 706.40 per share.