India’s second largest, IT services provider company Infosys looking to hire 15,000-20,000 freshers for FY25.
However, Infosys has faced a consistent decline in its headcount for the sixth consecutive quarter. The recent quarterly results for financial year 2025 reveal a net reduction of 1908 employees.
The total headcount for Q1FY25 stood at 315,332, down from 336,294 in Q1FY24. On a year-on-year basis, the overall headcount was reduced by 20,962.
The attrition rate for Q1 on the last twelve-month basis saw a marginal increase to 12.7 percent, from 12.6 percent in the previous quarter.
The Declining Headcount at Infosys
- Quarterly Reduction: In the quarter ending June 2024, Infosys witnessed a net reduction of 1908 employees.
- Cumulative Impact: This decline marks the sixth consecutive quarter where the firm’s workforce strength has decreased.
Context and Industry Trends
- Industry-Wide Challenges: Infosys is not alone in facing headcount challenges. Peers like HCLTech and Tata Consultancy Services (TCS) have also experienced similar trends.
- Increased Utilization: Infosys has raised its employee utilization level from 78.9% to 83.9% year-on-year, indicating efforts to optimize existing resources.
Infosys: Employee Attrition and Hiring Outlook
- Attrition Rate: The attrition rate at the tech giant has slightly increased to 12.7% in the June 2024 quarter, up from 12.6% in the previous quarter.
- Agile Hiring Model: Infosys CEO Salil Parekh emphasizes an agile hiring approach. The company expects hiring to pick up as economic conditions improve and digital transformation spending increases.
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Future Hiring Plan- Infosys
As per recent reports, IT giant is set to hire 15,000 to 20,000 fresh college graduates in the financial year 2024-2025 despite a relatively dry job market.
Jayesh Sanghrajka, Chief Financial Officer at Infosys said, “We are looking to hire 15,000-20,000 freshers this year depending on how we see the growth”.
He added, “Our utilization is already at 85 per cent, so we have little headroom now left. As we start seeing growth we will look at hiring.”
Workforce dynamics are crucial for any organization’s success and it is the same at Infosys. The company will need to address these trends while maintaining its commitment to employee satisfaction and growth.
In the financial year 2023-2024, Infosys hired 76 per cent fewer freshers. The headcount stood at 11,900 new graduates compared to 50,000 in the previous year.
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