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Indians are way behind the USA, when it comes to severance package doled out to the CXOs. Compared to 3-5% Indians getting the severance pay as a safeguard clause in their contracts, it’s almost 60-70% in the USA. The scenario came to light when the exit of Infosys CFO Rajiv Bansal happened. It has been reported that the departing Infosys CFO was gifted the “so-called golden parachutes”.
Severance for top employees in the technology and ecommerce/startups sectors have started to match global standards, said Sanchit Vir Gogia, Chief Analyst and CEO of Greyhound Research.
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