France Issues Notice to Global IT Giant Infosys..What Happened?

Indian IT services giant Infosys has been fined €175,000 by a French labour authority over issues related to its employee working time recording system. The company disclosed the penalty in a filing with the Bombay Stock Exchange (BSE), stating that it received a communication regarding the action from DRIEETS Île-de-France, a French regional labour authority.

Infosys said the penalty was imposed due to shortcomings identified in its system for recording employees’ working hours. The company has acknowledged the communication and the regulatory development as part of its compliance related disclosures.