Infosys is pleased to report that the U.S. Department of Labor (DOL) concluded its investigation with a determination of compliance regarding labor condition applications filed in the Southern California Edison project. Infosys fully cooperated with the DOL in its investigation, and over 145 files were reviewed, with no violations found.
“IT services companies like Infosys provide superior service, skill and scope from global centers of excellence, bringing value and technology innovations to enable American companies to be competitive and succeed. Infosys continues to actively recruit and hire talent in the U.S., but while there is a shortage of technology skills, Infosys is a responsible participant in the H-1B program. We do not practice or condone unfair or unethical H-1B visa practices. Our key priority is to operate fairly, ethically and with integrity, which is good business and what our clients expect." – Sandeep Dadlani, EVP and Head of Americas.
"We are proud of our robust immigration compliance program and very pleased to receive this positive determination of verification from the DOL of our technical and substantive compliance. Infosys is happy to cooperate with any future government agency inquiries to continue to demonstrate our commitment to compliance." – David Kennedy, EVP, General Counsel and Chief Compliance Officer.
Infosys is a global leader in consulting, technology, outsourcing and next-generation services. We enable clients, in more than 50 countries, to stay a step ahead of emerging business trends and outperform the competition. We help them transform and thrive in a changing world by co-creating breakthrough solutions that combine strategic insights and execution excellence.
Visit www.infosys.com to see how Infosys (NYSE: INFY), with US$ 8.7 billion in annual revenues and 179,000+ employees, is helping enterprises renew themselves while also creating new avenues to generate value.
Certain statements in this press release concerning our future growth prospects are forward-looking statements regarding our future business expectations intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2015. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. Any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of this date. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company unless it is required by law.
For further information, please contact: PR_Global@infosys.com