Infosys faces record fine in US


Infosys is accused of putting workers on visitor visas rather than work visas. The former are much easier and cheaper to obtain than the latter. The fine is expected to be about $35 million, the paper said, quoting people close to the matter.  The US government plans to punish Indian outsourcing giant Infosys with the largest immigration fine ever for seeking visas fraudulently for workers at big clients in America, the Wall Street Journal reported.   The fine will be announced on Wednesday, the Journal said. It said a company spokesman confirmed a resolution will be announced on Wednesday and said Infosys had set aside $35 million to settle the case and cover legal costs.   Infosys clients have included Goldman Sachs Group, Wal-Mart Stores and Cisco Systems.  

Comments

Post a Comment

Popular posts from this blog

Indian Retail Industry 2012 - 2013

Image
                                                                   Rajesh Thambala – Research Analyst   1.   Introduction T he Indian retail landscape is evolved from the brick-and-mortar model to adopt technology for connecting with consumers. The aim is to achieve a complete seamless customer experience. The Indian retail sector accounts for over 20% of the country’s gross domestic product (GDP) and contributes 8% to total employment. The cumulative foreign direct investment (FDI) inflows in single-brand retail trading, during April 2000 to June 2011, stood at 69.26 million USD. The current estimated value of the Indian ret...
Read more

The future of e-Learning

Image
                                                                                                  - Rajesh Thambala   Transforming education for future is an excellent introduction to how digital culture is influencing visions of education.  The argument is that the current educational system exists to prepare people for a 19th and 20th century, and that must be recreated in order to prepare students for future.  This goes beyond reading, writing, math, and science.  It explores the ...
Read more

The Indian retail industry 2020

The Indian retail industry is one of the fastest growing in the world. Retail industry in India is expected to grow to US$ 1.3 trillion by 2020, registering a Compound Annual Growth Rate (CAGR) of 16.7 per cent over 2015-20.    India is the fifth largest preferred retail destination globally. The country is among the highest in the world in terms of per capita retail store availability. India’s retail sector is experiencing exponential growth, with retail development taking place not just in major cities and metros, but also in Tier-II and Tier-III cities. Healthy economic growth, changing demographic profile, increasing disposable incomes, urbanisation, changing consumer tastes and preferences are the other factors driving growth in the organised retail market in India.    India’s population is taking to online retail in a big way. The online retail market is expected to grow from US$ 6 billion to US$ 70 billion during FY15-FY20.   Increasing p...
Read more