American technology giant Verizon is planning to shift it’s 1,400 Indian employees to Infosys by the end of this year and will work on the company project for a year, before moving them on other projects.
In a report published by Economictimes, “The heads of both the companies (Verizon and Infosys) had met and discussed with nearly to 700 of its employees each in Chennai and Hyderabad office and Infosys is likely to start the shifting of the process by the beginning of October 15.”
Citing to the persons familiar with this matter has said: “Infosys may issue employment offers to Verizon employees from Chennai and Hyderabad offices by the end of this month.”
Adding to the report, Verizon’s spokesperson said: “the process of shifting of those employees will be completed by December but did not give a specifics.” Whereas Infosys has declined to comment on this matter.”
As a part of the transition, Infosys has agreed that for “at least one year following the Employment Effective Date” to the Verizon Employees who accept the offer will receive total compensation and other comparable benefits.
The process of transmission is a part of the Infosys’ recently signed deal worth of $700 million for digital transformation of “select business functions” of Verizon.