To staisfy the street, INFY imposed a salary freeze but quietly made an iternal announcement promoting over 20,000 employess to a one higher grade.These injuns are smart thinking we can be fooled.!
That might have been to retain the best talent. A salary freeze without promotions would cause the best people to leave the company for greener pastures. Attrition was bad enough even with those 20,000 promotions.