Special Correspondent

CHENNAI: Infosys Technologies is well on its way towards achieving its target of 30,000 hires this year, and the company would also be despatching letters to its employees on compensation hikes in the coming month, CEO S. Gopalakrishnan said on Tuesday.

Speaking on the sidelines of Culturati, an event organised in connection with the World Day for Cultural Diversity for Dialogue and Development, he said the company was also looking at building additional infrastructure in Bangalore though the plans were not yet concrete. The situation was “back to normal,” he said. Noting that the company had recorded sequential growth of 6-7 per cent in the last few months, he said, however, that the situation in Europe was a “cause for concern.”

“Around 25 per cent of our revenues are from Europe but our exposure is mostly to northern Europe whereas the current troubles are in southern Europe,” he said. Business per se was improving in Europe but this was because much of the debt had been passed on to the governments, he said.